November Market Update
Covid-19 has had some very large negative, economic, social and health consequences but one of the positive stories of this pandemic is the lift it has given the regional property market. Covid-19 transmits best in high density communities in the cooler climates. As such we have seen many interstate buyers relocate to regional Queensland.
Government stimulus especially to the new home market has seen a significant uptake in our region. This means there is a large amount of long-term employment for our tradies and businesses, which creates confidence for locals to take the steps to purchase. Super low interest rates, that are likely to be long term, give confidence to buyers that they can afford a great home and their repayments are not likely to go up any time soon. An incredibly tight rental market, with rents increasing well above inflation, is encouraging many renters to bring forward their future house purchasing plans.
All the above is creating housing demand that we have not seen locally for many years and sale prices are starting to increase.
If you are looking at purchasing or selling any time soon please contact our friendly staff at our Bundaberg or Bargara Offices