Queensland Building Boost Extended!
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Today’s announcement that the Queensland Government Building Boost Grant (a $10,000 grant provided to investors and owner occupiers for new properties up to $600,000) is being extended until 30th April may well add fuel to the State Governments re-election campaign but, its also fueling what is fast shaping up to be an exciting period in the Queensland Property Market.
After the floods and cyclones last summer devastated much of the State, Queensland saw a significant fall in migration and immigration. This was not wide spread though as many areas associated with the burgeoning mining boom came under severe housing pressure as their communities rapidly expanded. So, while ‘doom and gloom’ is still being preached in some media circles about a dire property market and declining prices, much of Queensland has already passed through the bottom phase of the market is is already on the upswing.
With the massive demand for jobs in mining centre’s in the Surat Basin and central Queensland, the support and FIFO (fly in – fly out but also refers to the ‘drive in – drive out workers) bases in places like Townsville, Mackay, Sunshine Coast and the like, are experiencing high demand for new properties. Many of these centres in once volatile property markets are looking at projected periods of strong capital growth and/or high rental yields. The returns make new property in many of these areas a very attractive option and the $10,000 boost only makes it better.
But be warned… just jumping in because of the boost or a supposed ‘hot spot’ doesn’t guarantee success. Any investment must be based on a sound plan based on your current circumstance and long term goals. When that’s in place then look for the right properties to create a balanced and diversified portfolio.
To find out more about the Queensland Building Boost, the mining boom and ‘what to buy where’ to create real wealth through property, grab a copy of our latest FREE magazine or call us to chat to one of our Property Coaches. It’s a new year and a new era in property so now’s the time to act if you want to maximise your returns and build wealth for your future.
It is indeed shaping up to be a very Happy New Year!
