Having suffered years of negative trending in both the New South Wales and Queensland property markets, property experts are optimistic that a recovery is on its way due to increased confidence in the residential property market. State Government leadership changes in both NSW and QLD are believed to have helped boost buyers’ confidence, whilst forecasters have observed an improvement in first home buyer purchase and the release of new land for development.

Recently, the vendor of a new residential estate in south-western Sydney must have been wondering about all the media talk about lack of confidence in the market when buyers camped out overnight to secure themselves a block of land. There is a spike in trends to purchase in new residential estates in other parts of the city, including Sydney suburbs Edmondson Park and Elizabeth Hills. Experts are noting similar trends in Queensland also, promising more signs of recovery and confidence for first home owners and investors alike.

The area set to see the most change are expected to be in Sydney’s edge and in addition on Queensland’s Gold Coast, Sunshine Coast and outer Brisbane. While having reduced beforehand, reports demonstrate a recent rise in new home loans for property acquired in outer regions.
Considering the damage following all the unfortunate natural disasters, Queensland has shown significant growth. In experts’ eyes, developers appear confident with almost 6,000 new lots are set to be produced annually from 2012-2017. Comparing this figure to 2007-2012 where only 2,809 lots were released annually, so growth within the market is inevitable.

The public are being encouraged to consider buying while prices in some areas are still competitive. With interest rates also considerably low and expected to be cut further in the near future, an favourable moment has presented itself to many new home owners and investors.