3/6 Australia’s Property Market All About The Rate Hikes ~ Queensland
Let’s get right into how the rate hikes have affected the Queensland market.
The interest rate hikes have reduced buyers’ borrowing capacity, making it challenging to afford previously attainable price brackets. However, buyers in Queensland can still find relatively better homes within their limits, leading to growing demand and anticipated increases in housing prices and rental demand across the state.
The demand for property in Queensland continues to exceed supply, preventing significant price declines and driving up rents.
Some residents in South-East Queensland are selling their properties and moving to more affordable and quieter regions, while others are still attracted to the area. Towns like Hervey Bay, Bundaberg, Rockhampton, Mackay, Townsville, and Cairns are experiencing increased demand in their housing and rental markets due to infrastructure development and employment opportunities.
Next, we cover the market in South Australia post-interest rate hikes.
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