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IPSWICH PROPERTY MARKET

• There isn’t one property investment or wealth creation group in Australia at the moment that isn’t singing the same song: 2014 – Queensland is the place to invest. Particularly SE Queensland, especially where you can produce two incomes from the one property without having to do dual occupancy and all it’s associated fees and charges i.e.: Dual Living as they are all calling it …

Have I mentioned yet that we are the only council in Queensland to allow this from an investment point of view - Come in Ipswich!

Ipswich Property Market

Property Market

• This was the first month where capital city dwelling values didn’t move higher after posting a ten percent rise over eight consecutive months of growth. Whether this latest month on month is signaling a change in housing market conditions is yet to be seen. We’ll need to see a few more months of flat to negative movement to know if a weakening trend is becoming established.

• What’s more likely is that the flat February result is simply an adjustment to previously strong December and January readings where values were up a cumulative 2 percent with a rolling quarterly gain across every capital city apart from Darwin. Most other indicators are still showing very robust conditions at least from a macro level.

RPdata update on housing market condition for March 2014

• Buyer demand has increased substantially over the past year with a number of home sales over 25 percent over the December quarter compared with the same time last year and it’s likely this initial demand coupled with a relatively insufficient level of new housing construction will start to push local values higher.

RP Data

• Overall the zero capital gains result in February needs to be viewed in line with the most recent trend in other market data flows considering the strong results in auction markets and mortgage related evacuation activity over the month the soft index result is likely to be more reflective of the market taking a breather after such a strong December and January reading rather than a sign of a faltering market.

• Average selling time is showing its typical seasonal spike in January however the reading remains much lower than previous January periods and follows a record low average days on market in November and December. Vendor discounting is also tracking at a very low level with a typical capital city vendor discounting their initial price expectations by just 5.6 percent.

• It is important to remember that the RPdata is mark value index is not seasonally adjusted so the flat rate of growth can partly be attributed to the seasonal factor at this time of the year.

• The next few months of data will provide a much better indication to whether or not a slowing trend is becoming apparent. Interestingly the flat February result did coincide with the slump in consumer confidence as well.

• The Reserve Bank is looking increasingly reluctant to lower interest rates any further and their recent statements have indicated a neutral interest rate setting for the foreseeable future.

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