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Low earners get housing boost DESPITE the recent interest rate rise, the economic climate in Queensland is strong, according to CEO of Harcourts Queensland, Aaron Brooks.In the latest issue of Harcourts' MarketWatch, the organisation's bi-monthly media newsletter providing comment on the market, Mr Brooks said that housing prices in Queensland were still affordable, especially when compared with Sydney and now Perth. "Based on the migration rate and a steady growing population, Queensland will remain the growth corridor of Australia," Mr Brooks said. According to Mr Brooks, over the last three years in particular, the Queensland real estate market has represented excellent value for local and interstate investors, with a mixture of strong capital growth and a high rate of return. He went on to say that while the housing boom in recent years has sent prices soaring, the market has now settled. "As I predicted at the beginning of the year, this year home owners experienced modest capital gains, and buyers took respite in a market that was simmering as opposed to boiling," Mr Brooks said. |
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