QUEENSLAND OUTLOOK Trends The majority of Queensland members (73%) believe interest rates will drop further in the latter half of 2012, which is expected to improve affordability, stabilise prices, create more market confidence and stimulate activity. Mortgage stress is expected for areas with rising unemployment levels, such as Atherton Tablelands, Gold Coast and parts of Brisbane. There is also an expected increase in mortgage defaults as a result of economic conditions and rising livings costs in regions such as the Sunshine Coast, Gold Coast and parts of Brisbane. 57% of Queensland members expect mortgage defaults to increase throughout the remainder of 2012. In the main (67%), Queensland members expected the entry level market, (properties less than $350,000) to represent the strongest sector of activity in the latter half of the year, with the balance saying it will be the middle market. According to industry statistics, the top four regional areas with growth predicted over 8% during the next eight years are: Region
Predict Growth - %
Redcliffe
7.28
Mt Tamborine
7.95
Mt Isa
7.17
Ipswich
6.99
Solar power and energy are the most sought-after energy efficient features for property hunters in the regions of Moreton, Central Queensland, Darling Downs, Gold Coast, Sunshine Coast and some parts of Brisbane. Eves or window shades are the most popular for Atherton Tablelands, Wide Bay Burnett and Sunshine Coast, while the Gold Coast favours drought resistant gardens.
2012 PROPERTY MARKET OUTLOOK – MID YEAR UPDATE FIRST NATIONAL REAL ESTATE
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