5 Real Estate Trends You Need to Know About in 2018
2018 is going to be an interesting year for real estate with quite a few changes bringing new opportunites. Here are 5 trends you need to be aware of as a homeowner in Brisbane!
1. More Interstate Investors
Firstly, we're going to see an onset of more investors coming from Sydney and Melbourne. They've had a great run in Sydney and Melbourne capital growth wise. And as those markets slow or soften I think you will see people who trade come to Brisbane and other capital centers to trade equity and minimize risks across their portfolios.
2. Tax incentives will lead to downsizes.
Secondly, the marketplace tax incentives will result in more people wanting to downsize due to last year's budget. There are going to be more and more people looking to downsize, which will free up the supply of in-demand land in city areas.
3. Increase first-time home buyers.
Thirdly, we've got first home buyers coming into the market and have been steadily prospering for a couple of years and wanting to look into the brand new property. We're going to see more of that. Funny enough, that's counteracted the people that APPRO lending criteria stopped supporting and the first home buyers took up the slack and stepped up on the demand and that pushed prices up in capital cities. And I think you'll see still more of the same.
4. Postwar homes will be sought after
Postwar homes won’t be looked at as the ugly duckling Queenslander anymore as the property prices or land prices go up. To knock that down is going to be too much of a stretch because building prices of building a brand new home and knocking a house down to the land will become pricier and I think people will be looking to renovate a post-war home, especially in places like New Farm, West End, and all other places that the land prices have pushed up on.
5. Multi-income properties are on the rise
We’re also looking at multi-income properties. With the onset of Airbnb and people waking up to the fact that they can actually develop properties that they can rent out a portion of. Something close to amenities, close to capital cities, and obviously, coastal areas where there are lifestyle and infrastructure and places like hospitals.
So that's it for the five trends that I can see becoming more apparent for this year. If you have any questions about properties and need any help you can easily email me or you can call me on 0402 909 727 and let's discuss your next move. You can also click the button below for a free appraisal. Have a good one!