After a satisfying economic performance last year, property experts reveal their forecast for 2015. Based on their predictions, everyone seems to agree that the best places to invest in Australia are going to see major changes as real estate markets in big cities enter a slowdown.
If you are one of the many Australians dreaming of building an empire through property investments, where are the best places to put your money this year?
Commercial Property
Australia’s commercial property market set a new record in 2014 after registering an astonishing $28.1 billion in property sales last year, a feat, which was underpinned largely by the industrial market.
Analysts are confident that 2015 will be just as good for the commercial property sector with investments expected to match last year’s record. They also anticipate that foreign investors will increase their spending in Australia to take advantage of interest rates raising the competition and opportunity for Australian businesses.
To maximise gains in the commercial property sector, Sentinel advises investors to identify investments with a strong mix of income revenue, capital growth potential and tax benefits.
The Queen in the North
As a slowdown commences in last year’s top performing cities, mainly Melbourne and Sydney, it is time for investors to explore their options up north. Analysts are urging investors to pay attention to Queensland, particularly Brisbane and its underlying regions.
The overheated property markets of Melbourne and Sydney are becoming too hot to handle for some. Fortunately, 2015 sees Queensland’s property market taking off with Brisbane’s quiet progress paving the way. Investors and homeowners from other cities who are facing the possibility of being priced out are moving up north where they can still enjoy lower prices and higher gains.
In addition to Brisbane, property analysts also identified Queensland’s regional areas such as Toowoomba, Moreton Bay, and South Burnett as property hot spots for 2015.