If you’ve spent any time looking at property over the last few years. You would have noticed the huge surge in land value in QLD. Across the South East, and even further north, the price of land throughout QLD has been skyrocketing. And it doesn’t look like it’s stopping any time soon.
Even just recently, throughout 2021, land value in some areas of SE QLD have jumped as much as $80-$100k. This is fantastic if you own a home! But, if you’re still struggling, trying to save a deposit to get into your own home, it can be a literal nightmare.
Let Darren Walters and his team at No1 Property Guide get you out of that nightmare and into your homeownership dream today. Simply fill in our pre-qualification form and our New Home Consultants will tell you exactly what you can or can’t do using Darren’s specialised no or low deposit new home system.
Why is Land Value Going Up So Much?
The short answer, supply and demand. Land has been in short supply in recent years, with home buyers and developers needing to go further and further out of the city to build new houses.
This only got worse when the pandemic hit. With thousands of Australians fleeing the southern states for the, relatively, safer QLD lifestyle. What little land was available quickly became hotly contested. This drove prices up in a flurry and has caused some estates to increase the price of their blocks by $30-$50k. In just a few weeks.
Won’t it Drop Back Down?
Historically, property prices in Australia tend to double every 10-15 years. Any dips in property prices are usually short-lived and are always the exception, not the rule. Recently, the Reserve Bank of Australia announced they would likely be holding onto their record-low interest rates for a couple more years.
When that’s combined with the high demand around the state for blocks of land in desirable locations. It’s not hard to see why land values in QLD are getting out of hand.
What if I Want to Buy Existing?
The rising cost of land across Queensland hasn’t just affected home buyers looking to build a new home. It also affects anyone looking to buy an existing property as well. Blocks of land in the city are an incredibly rare resource. In fact, many builders or developers will actually pay a huge sum of money simply to secure a block of land in a desirable location. To then just to knock down the existing property and rebuild from scratch.
So, if you’re hoping to get an existing home without paying a premium for a great block of land or location, you’re going to be disappointed. You’ll have a lot of competition, especially from cashed-up developers and investors looking to capitalise on the growth.
How Can No1 Property Guide Help?
Here at No1 Property Guide, we specialise in helping renters get out of the rental nightmare. Without needing the huge 20% deposit most banks and lenders require. Rather than struggle to try save a deposit faster than land values rise. Get in touch with our New Home Consultants to discuss how you can get into the market today. So you can start enjoying the benefits of the rising property prices throughout QLD.
Simply fill in our pre-qualification form and one of our New Home Consultants will be in touch to go over your factual options. From there, we’ll simply guide you through the homeownership journey. So you can make an informed decision about whether you want to own your own home, or stay renting while QLD land values keep on rising.
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