Olympics to Push Brisbane Market’s Limits
Brisbane house prices will hit the $1-million median well before the 2032 Olympics with suburbs near venues tipped to move up to $3.9 million.
Property projections from PRD Research indicate the median price would reach $1.7 million by 2033 and would be “immensely” boosted on the Gold and Sunshine coasts.
PRD chief economist Diaswati Mardiasmo said it was clear that hosting major events had served the property market well.
Federal Budget 2021: Property Hits and Misses
The federal government has rolled out its latest budget in May, a single-year plan centring on aged care, childcare, infrastructure, investment tax breaks and more help for home buyers as it tapers off the record spending from last year’s budget.
The budget will use superannuation incentives to help younger Australians enter the property market and older Australians vacate the family home.
While there have been some significant aids to the property industry and construction sector, experts have also noted some missed opportunities.
Queensland Budget Announcement
Queensland faces a “hard road” during the next four years as the state recovers from the coronavirus pandemic, Treasurer Cameron Dick says.
Property tax concessions are notably absent from the Queensland budget as the state details its plans for the year to come.
Instead 86,000 interstate migrants, health and education investments as well as infrastructure spending are expected to boost the state economy.