Plainland housing market set to boom
THE real estate market in the Laidley and Plainland area is going strong, and there are no signs it is going to slow.
Plainland Property Sales director Shane Woods saw no reason for the market outlook to be anything but positive.
"It's definitely strong market, there's a lot of talk about the market crash, but I don't think that's going to happen around here," Mr Woods said.
"There's a lot of growth still in the area yet I think."
He said the Lockyer Valley as a whole was performing well, with several areas achieving "sensational sale prices", which he put down to the affordability of the area.
"Properties out here are still quite affordable, even for first time buyers, so that's probably driving the market," he said.
Mr Woods said despite the potential for the Reserve Bank to raise interest rates over the coming year, Mr Woods said there was still plenty of buyer activity driven by the record low rates.
"People are still weary about the rates going up of course, but now is the best time to be buying with the rates so low," he said.
A shifting buyer demographic across the Lockyer Valley and Somerset region has been mirrored in the Laidley and Plainland area, with investors leaving the market.
Mr Woods said he believed it was a result of the banking sector tightening lending requirements and expecting larger deposits.
"Even first home buyers have dropped off as well when you would think they would be jumping on now at the 1.5 per cent interest rate," he said.
He expected the Plainland area to continue to grow over the coming months, saying "it can only get better from here".
"Overall I think the Plainland area itself is a growth area... the surrounding suburbs around Plainland are capitalising on that as well," he said
"Hatton Vale and Kensington Grove have seen some record prices."
With population growth expected to continue rising in the area, and stalling markets in areas such as Sydney and Melbourne, Mr Woods expects the market in the area will continue to be strong for sometime yet.