One source we will refer to regularly is Michael Matusik of Matusik Property Insights (www.matusik.com.au). Michael has just provided the following information to us (August 2009) and it may well be of further interest to you. The most recent comments relate to a looming shortage of available new property for sale in Queensland, specifically in S.E.Q. and are important to understand because such a shortage can have very positive effect on the values of existing property. The report basically make the simple point that the doomsayers who have predicted a massive fall in property prices must be wrong. This is because the fact and figures available show that the value of existing stock is holding up well and that there is a MASSIVE undersupply of housing stock pf all classes looming large. To point up the size of the shortfall, Michael Matusik make the following point:
“We need to build 30,000 new dwellings each year, and by our modeling, S.E.Q. needs to have the following new residential projects in the marketplace at any one time --- five master planned communities; 25 large subdivisions; 100 medium sized land projects and 150 detached infill sites; 100 townhouse projects; 50 major apartment developments; 50 retirement villages and 500 duplexes under construction. The only meaningful measure of residential land supply is if this volume of new stock is actually available for sale at any one time.
Go drive around S.E.Q. and see if you can find these new residential projects. We can’t!”
If you find this a compelling argument you may like to view our properties for sale and consider a new investment property. Alternatively you may be the owner of a property you were considering selling. This may well be the advice that convinces you to hold on.
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