Real Estate market update
Will the Scenic Rim continue to prosper in 2023?
Investors in Beaudesert are quietly celebrating the long-awaited price rises that have finally come to fruition after many years of limited capital growth. Within the past 12 months, the Scenic Rim has seen a staggering growth in both property values and rental yields. However, after such an incredible year, many have concerns that the RBA interest rate rises may cause the real estate market to fall.
The RBA is justifying the rate increases as a weapon against inflation. The question is, will 2023 see Beaudesert enter an adjustment phase of the property cycle which will correct the significant and rapid growth of the past 12 months?
Danny Bukowski, principal of C1 Realty is confident that the local market will continue to thrive. “I believe the Scenic Rim market won’t crash; it probably will level out with demand slowing for a little while. But the future looks strong so our market is not likely to go backward.”
Below is the current data sourced from realestate.com.au that shows just how much the Beaudesert market has moved over the past few years. It is also interesting to look at the demographic pie graphs. You’ll see that the largest occupancy type is renting households, indicating that Beaudesert remains a strong market for investors as tenants are the biggest section of the population.
