Queensland is a state of Australia and has a solid history of property growth. Queensland’s capital is Brisbane and the most populous city in the state.
If you are looking to buy a propery investment in Australia, whether it be residential or commercial, Queensland definately has areas that have experienced great growth in the past and also offer opportunities for growth into the future.
The most densely populated region of Queensland is the south-east which comprises of the Sunshine Coast to the North, then Caboolture heading south, then Brisbane (the capital), Logan and finally the Gold Coast before hitting the NSW border.
To the west of Brisbane there is Ipswich and then Toowoomba.
The south east region has a population of close to 3,000,000 people.
The total population of QLD as of January 2011, was 4,550,000 people which means the remaining 1.5 million people are situated in smaller towns and cities scattered over the rest of Queensland.
Some of the more popular regional cities are (starting from the far north and heading south) Cairns, Townsville, Mackay, Rockhampton, Gladstone, Bundaberg and Gympie.
These cities are on the eastern coast line some of which comprises the Great Barrier Reef.
Queensland’s overall population is increasing, which means there are plenty of property investment opportunities.
Because QLD is a tropical and sub-tropical climate, the types of properties around are more adapted to these hotter and humid conditions.In fact, there is a type of house called a “Queenslander” since it originated from this area of the world.
A Queenslander house normally consists of a timber house raised off the ground on stumps with a wrap-around verandah that normally surrounds the entire first floor. The indoor/outdoor verandah provides an indoor space that still allows the afternoon breeze to blow through and remove the humidty from the air.
The median price for a house in Brisbane is around $440,000 which can range from paying $250k to $350k for a house in the outer suburbs, to paying close to $1 million in the inner city and CBD suburbs.
Of course there are also niche properties such as riverfront, beachfront or acreages that will fetch much more than $1 million.
Rental yields for houses are around 5% but yields of up to 6% or 7% can be had with apartments. In regional areas where new mining projects are gearing up, yields of 8% to 12 % can be achieved. These regional towns are sometimes called boom towns.
Queensland is currently one of the worse performing states in the past 12 months for property growth, having dropped 3.6% in value in the 12 months to March 2011.
This is partly due to 2 natural disasters earlier in the year, namely the January flash floods and Cyclone Yasi.However, this represents a buying opportunity for those who have found the QLD market too expensive in the past.
With Queensand’s increasing population and surging mining industry, it is sure to recover in the future and therefore it would be a good time to start looking for investments in this state in the short term.