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Building Approvals Up 7% – Good News

If you live in Queensland or are trying to move there then you are probably more than aware that there is quite a housing shortage in the area. In some sought-after residential areas there is a vacancy rent that is below 2% and there is a real shortage of family homes, particularly those with a view of the coast, a pool and a couple of bedrooms and a garage.

Whether you are going to rent the building or live in it yourself, there’s the Queensland Boost Grant of $10,000 a year which is a lot like having your investment paid for you. Many builders are taking advantage of this grant, getting the fast approval from the government and then using the tax refund they receive on the first year of investment in the property to partly finance the home for the next year. This is a neat cycle of prosperity that can repeat itself every year and that can be nicely augmented by renters in the home.

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