Recent research released by BIS Shrapnel points to a recovery in the residential land and building sector in Queensland, specifically Brisbane, Gold Coast and Sunshine Coast. Owners of Bulimba real estate could look forward to a period of enhanced activity in the property market if the upswing continues as predicted.
According to the report by BIS Shrapnel, the relative stability of land prices combined with more affordable home loans has led new builds being a more viable option compared to established homes.
"The signs are also emerging in metropolitan Brisbane, where lot production fell below 5,000 lots in 2012/13; the lowest level in at least 20 years. However, the emerging upturn in demand has seen around 6,000 new residential lots completed in 2013/14," said Angie Zigomanis, senior manager and report series author.
"Land prices in Brisbane have shown only minimal growth in the past five years. The return of house price growth to the Brisbane market is resulting in an increase in upgrader demand, which should see lot production continue to rise over 2014/15 and 2015/16," continued Mr Zigomanis.
With new buyers entering the market and established Bulimba property owners moving on to new ventures, now may be a great time to explore your options in the local real estate market.