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ISCOVER
Staff Reporter
Brisbane and south-east Queensland will be strong performers heading into 2012, one property specialist has claimed.
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The Investor's Club chief executive officer Kevin Young said both Brisbane and south-east Queensland will become hotspots for investors as the regions recover after the 2010 floods and more than $45 billion is injected into the economy courtesy of a new LNG project.
"As flood relief funds start to work their way through, the market property will recover," Mr Young said.
"Funds that have been slow to distribute will reach home owners and businesses next year and mines that were flooded are re-opening - all having a positive impact on the local economy and house prices. I would stick with low rise units, town houses, and houses, as units in high rises are too easily over supplied in Queensland."
Other areas expected to perform well in 2012 include Darwin and certain suburbs of Melbourne.
"New US army bases will create strong demand for housing," he said.
"Along with the resources boom, the military bases will put upward pressure on rental properties. Keep an eye out for motel-type lifestyle housing. Military families and workers from the mines will be looking for units with all the mod cons, which are compact and easy to secure."
"The Melbourne property market is becoming very patchy, but there are still great buys out there. In 2012 investors should look for properties that are close to the city, public transport, infrastructure and amenities.
"Good money has been made out of property purchases on the perimeter areas, but in 2012 property growth will be higher closer to the city. Avoid the docklands and other high-rise areas, which are easily over supplied."
