John McGrath says there’s only one place in all of Australasia to be buying real estate right now.
And that’s in south east Queensland.
The founder and CEO of McGrath Estate Agents — who has 64 offices all over Australia — also thinks Sydney’s housing boom has almost run its course.
“Right now, you can lock in the cheapest money you have ever been able to borrow. I am telling my clients to buy on the Gold Coast or in Brisbane,” he told News Corp Australia, during AREC, the second biggest real estate conference in the world, being held on the Gold Coast.
“South east Queensland is my top pick of everywhere to buy in Australasia at the moment. “Sydney has experienced 40 per cent growth in the last few years and I hope its almost topped out or else we are all going to have issues.
“For us I see the golden triangle out to Toowoomba, up to the Sunshine Coast and down to the Gold Coast.
“Anywhere in Queensland will do well but I’d be hard pushed to find anywhere better to invest than the south east of Queensland in the next 3-5 years for capital growth.
“People are more confident than ever, the economy is going well even though unemployment is ticking up and higher than we’d like to see but most people see light at the end of the tunnel.”