As we settle into the new year, many people often take this opportunity to think about what they want to achieve over the next 12 months.
For some of you, you might be looking to improve your fitness, get a promotion or spend more time with your family.
For others, you may be thinking about purchasing a new investment property.
If that’s you, great!
Whether you’re a first home buyer or a seasoned investor, this year is the perfect opportunity to start or grow your investment portfolio. There are so many opportunities out there to take advantage of right now.
However, it’s important to understand that 2024 is not going to come without its challenges, meaning you need someone on your side to help you navigate the market and make the right decisions to maximise your returns.
That’s where a Buyer’s Agent can help.
In this article, I’m going to explain why this year is a great time to invest in Queensland property before showing you exactly how a local Buyer’s Agent can support you in reaching your property investing goals in 2024.
Why 2024 is the perfect time to buy an investment property
Let’s be honest, here in Queensland, there’s always something going on to attract investors to the property market.
Now, with rising interest rates and cost-of-living increases pushing more and more people to the brink in the southern Australian states, we’re consistently seeing a steady increase in population growth in Queensland – particularly in Brisbane and on the Gold and Sunshine Coasts – and this is expected to continue for years to come.
Of course, it’s completely understandable.
I may be a little biased but…
Our southern neighbours want the same manageable property prices, fantastic weather and high standards of living that we enjoy here in the Sunshine State every day!
Not to mention, the announcement of the 2032 Brisbane Olympics has seen plans put in place for the ongoing development and upgrading of new and existing infrastructure in our capital city and surrounding areas – further adding to the appeal of Queensland now and for the future.
This means there’s always going to be a strong demand for rental properties in Queensland.
Queensland property stats – it’s in the numbers
In terms of numbers, the most recent data from CoreLogic shows that:
- Brisbane’s property values have increased 13.1% in the 12 months to December 2023.
- Regional QLD has risen 8.7%.
- Rental yields are staying strong at 8.2% in Brisbane and 6% across the region.
This makes Queensland one of the most consistently high-performing property markets in Australia – and 2024 is the ideal time to buy in.
What challenges are you likely to face with property investing in 2024?
First and foremost, it’s possible that we may face another interest rate rise this year.
Of course, whether this happens or not, the reality is that the fear of a rate rise will perpetuate regardless – potentially leading to a period of volatility or the slowing down of the property market.
However, I always say that real estate is a medium-to-long-term investment.
Personally, I would rather be in the market and riding the short-term ups and downs than watching and waiting to try and time it right.
As an investor, whether the value of your investment property goes up or down in the short term should be irrelevant. The fact is you’ll be able to rent your property out in 5 minutes, thanks to the mass exodus from the southern states – and you will then reap the benefits of time in the market in the years to come.
The other challenge that you may face as an investor in 2024 is finding the right place to buy.
Whether you’re a local Queenslander or you’re looking to invest from interstate, you need to know exactly where to look for the best opportunities in the market.
So, how do you do that?
Make smart decisions when buying Queensland Property in 2024
With the right Buyer’s Agent, you can get all the support, advice and expert market knowledge you need to help you find the right investment property to meet your unique financial and lifestyle goals.
- Your Buyer’s Agent can view potential properties for you – which is particularly useful if you’re an interstate investor – and use their experience and expertise to advise you on your journey towards finding the right investment for you.
- Buyer’s Agents are also extremely dialled in with the latest legislation when it comes to purchasing and owning property in Queensland. This can help relieve the stress of navigating local and state property laws when coming from a different state.
- Finally, a great Buyer’s Agent also has unique access to a range of off-market and pre-market purchasing opportunities that normal buyers will never even see – meaning you can get your pick of the lot without all the usual hassle.
So, if you’re looking to invest in real estate in 2024, expert advice from a local Buyer’s Agent like myself is exactly what you need to help you make your property decision with confidence.
Worth Property Investing can help you buy the right property in 2024
My team and I are passionate about helping you make the right investments to achieve your financial goals and lifestyle aspirations.
Think of us as your property-buying partner, here to support you in making the ideal property decisions. As your trusted, licensed Buyer’s Agents, we do everything from searching, connecting, researching, bidding, negotiating and securing the best investment for you.
