What is the market doing?

Almost everyone who I talk to ask me the same question, what is the market doing?  If you read the media they are saying that the statistics show that the market is going down.  But the issue with statistics are that they are usually at least a month or more old.

Also the statistics that the media report on are what is happening in capital cities and the regional figures that they are talking about for Queensland include the Gold and Sunshine Coast.

What my gut is telling me is that South East Queensland has a lot to be excited about leading up to the Brisbane Olympics in 2032.  If proposals go the way that they are talking and events occur in and around Toowoomba then the proposed passenger rail between Toowoomba and Brisbane may occur.

So what does this all mean at the moment.  The crazy times of the last year or so appear to be gone, however, houses in and around Gatton are still getting contracts within a week or two.  With interstate interest still strong, it does not appear that house prices in the Lockyer Valley will decrease any time soon.

What I am telling people is that I think that local prices might plateau but I do not think that they will go down.

However, a lot will depend on interest rates and whether cost of living increases.

So while I’m not Nostradamus and I do not have any qualifications for financial advice or economics, my gut feel is that the property market will remain strong in the Lockyer Valley for the near future.