The Kallangur property market has seen steady performance over the last three months.
Sales have remained level, with only a slight downturn in buyer activity, while rental prices have increased substantially. This can be attributed to strong economic growth in the area, with a number of new businesses opening up and increasing demand for housing.
The area is also seeing an influx of new residents, with the population growing steadily and projected to continue growing. This has also contributed to the increased demand for rental properties, resulting in higher prices.
Overall, the market appears to be in a healthy state, with no signs of an imminent downturn despite the repeated rises in interest rates.
For a breakdown of different properties in Kallangur, see the table below:
Over the next three months, the Kallangur property market is likely to remain steady, with little change in housing prices. As the Australian economy recovers from COVID-19 and interest rates stabilise, the market should gradually start to improve. Buyer demand is likely to increase with fewer properties available and rents becoming less affordable.
Over the next three months, the Kallangur property market is likely to remain steady, with little change in housing prices. The suburb has proven to be resilient to rate rises.
As the Australian economy recovers from COVID-19 and interest rates slow down, the market should gradually start to improve however this is unlikely to be seen in the short term.
If you are a landlord, the current market is favourable for you to receive strong rental returns.
To take advantage of the current market, get a rent review to determine if you are charging an appropriate rate. You may find that you can charge a higher rent, based on market conditions.
Your property manager will take into account:
You have a major opportunity to maximise your rental income in the coming months.