If you’re considering investing in a residential development project in Brisbane and Southeast Queensland, I believe there’s never been a better time to do it than in 2023. With a growing population, a strong economy, and high demand for housing, the stars are aligning for developers & investors in this market.
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The increase in immigration is a significant factor driving demand for development sites in Brisbane and Southeast Queensland (SEQ). The Australian government has announced plans to increase the number of permanent and temporary residents in the country in the coming years. Specifically, they are gearing up to welcome 200,000 permanent residents and 500,000 temporary residents, including students and workers, each year.
This significant increase in immigration is expected to have a considerable impact on the demand for housing in Brisbane and SEQ. With more people moving to the area, the demand for housing will continue to rise. This increase in demand is likely to lead to a rise in property prices, making development sites an attractive investment opportunity.
Another factor that could make 2023 a great year to invest in residential development is that inflation is expected to fall over the next two years. This means that the cost of building materials and other inputs will be more affordable, making it easier for developers to build homes and apartments. This will, in turn, help to alleviate the current housing and rental crisis, which has been plaguing the country in recent years.
Australia has a robust economy with strong economic fundamentals. The country has enjoyed historic low unemployment rates, which bodes well for the property market. Additionally, Australia’s balance of trade is the best it has been in 60 years. The country exports more than it imports, which is driving demand for goods and services and boosting the economy.
Commodity prices are also on the rise, which is excellent news for property developers. The mining industry is a significant driver of the Australian economy, and as prices for minerals and other natural resources go up, so too will the demand for housing and development sites.
Infrastructure spending is also high across all states in Australia. The government has made significant investments in infrastructure, including roads, bridges, and public transport. This will improve the quality of life for Australians and make it easier for people to commute to work, study, and enjoy leisure activities. This, in turn, will increase the demand for housing in areas that are well-connected to these new infrastructure projects.
The supply of rental properties in Brisbane is currently low, with a historic low vacancy rate. This has created an ideal environment for investors looking to purchase development sites. With demand for rental properties outstripping supply, rental yields are expected to remain high in the coming years, providing an attractive return on investment.
Finally, the expected population growth is a significant factor that makes 2023 an ideal time to invest in residential development. Australia’s population is forecast to grow to 29 million people by 2030, and by 2050, the population is expected to be 40 million people. This means that demand for housing will only continue to rise, which will put upward pressure on property prices.
In conclusion, the property market in Brisbane, & SEQ, is an excellent place to invest in 2023. With a growing population, strong economy, high demand for housing, and low supply of rental properties, investors & developers stand to gain significant returns on their investments. With a focus on supply and demand, the fundamentals of the economy support the potential for strong capital growth in the future.
We specialise in locating off market development sites in and around Brisbane / SEQ.
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