Reserve Bank governor Philip Lowe’s recent address to the Australia-Israel Chamber of Commerce, the RBA chief reiterated that the RBA “does not see a strong case for a near-term adjustment to monetary policy”. “But it is worth remembering that the most likely scenario in which interest rates are increasing is one in which the economy is strengthening and income growth is also picking up.”

In his address, which focused on regional variations in the Australia economy, Mr Lowe highlighted the “dispersion in house prices” across the country. “The picture is pretty clear: the dispersion in housing prices is currently larger than it has been in a very long time,” the RBA governor said. “This mostly reflects the big run-up in housing prices in Sydney and Melbourne at a time when price growth in the rest of the country has been subdued.”

National housing market sentiment (measured by the NAB Residential Property Index) rose in Q1-2018 and remains above long-term average levels. The NAB Residential Property Index is based on Property Experts’ expectations for Capital and Rental Growth across various Capital City and Regional Housing Markets.

NAB’s Q1-2018 report released recently highlighted that Property Experts are bullish about the QLD Housing Market and expect strong capital growth. Sentiments about QLD continue to strengthen and are up by 13 points to +31. (as seen in the table below) QLD is expected to lead the way for capital growth over the next 1-2 years. Property Experts also expect QLD to see fastest rental growth over the coming year. On average, property professionals expect QLD to have the highest rental returns of 1.7%. For 2019, the house price forecasts remain broadly unchanged.

Queensland will hit the magic five million headcount in May, official figures show, a milestone helped by a surge in births and migration - putting real estate in the crosshairs.
ABS demography director Anthony Grubb said the state had hit 4.9m by the end of September last year and was growing at 1.7 per cent, helped along by the likes of 12,000 New South Welsh-people crossing the border last year alone.

 “Natural increase and net overseas migration each added an additional 31,000 people to the state’s population in the year preceding September 2017,” he said. “The third component, net interstate migration, contributed 19,000 over the same period, including a net flow of 12,000 from New South Wales.”

Author: Sophie Foster for news.com.au March 22, 2018 5:41pm Source: http://www.news.com.au/finance/real-estate/brisbane-qld/queenslanders-to-be-5m-strong-within-weeks-and-real-estate-is-set-to-reap-the-rewards/news-story/ea5
Image Source: Springfield City Group: Available at: https://www.greaterspringfield.com.au/media/gallery/

Ipswich Mayor Andrew Antoniolli says new data showing there will be an additional 2800 jobs at Amberley (Ipswich LGA) by 2020 is welcome news. “There is a significant flow-on effect with Defence personnel and their families living and spending in Ipswich. This can only lead to more jobs and more prosperity for all of us,” he said.

“I am very encouraged to see support from the Federal and State Government in terms of Defence spending. We remain hopeful that this will continue, in particular by awarding the $5 billion contract to Rheinmetall in early 2018 so it can establish a military vehicle centre of excellence in Ipswich to build the nation’s newest fleet of armoured vehicles.”

Mayor Andrew Antoniolli has described the $5 billion Defence contract as the biggest news for Ipswich since Queensland Rail came to town more than 150 years ago. Prime Minister Malcolm Turnbull was at Gallipoli Barracks Enoggera today to announce the massive Land 400 armoured vehicle deal with Rheinmetall Defence Australia. Rheinmetall will set up at military vehicle centre of excellence (MILVEHCOE) at Redbank to build 211 combat reconnaissance vehicles, known as the Boxer CRV, for the Australian Army. Cr Antoniolli said it was significant boost for Ipswich as it would create more than 330 permanent jobs from the outset, significant opportunities for locals businesses and associated work with ongoing delivery and maintenance of the vehicles.