Brisbane has grown 1.2% in the last month and 15.8% over the year.
Given there remains an existing undersupply of housing, not enough new homes being built nationally to bridge the gap (only 183,000 last year compared to the 240,000 a year required) and an increasing population – particularly in Qld which seems to be the place everyone wants to live then that rise is unlikely to stop any time soon. Even if the RBA increases rates.
Even if the market only grows 10% over the next 12 months that would mean a property selling today for $700,000 will cost $770,000 this time next year.
Unless you can save at a faster rate than the market is growing then you will be going backwards each month.
This is the reality of a rising market.
If you are looking for ways to maximise your purchasing power so you you get into the market now then Book in with me for a Free Maximiser session to find out how you can boost your purchasing power and buy your dream home or investment property in the next 30 days. Click here to go straight to my calendar to make a time.
Greg Carroll
More Than Accountants
