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Is Queensland about to go bust?

Discussion in 'Property Market Economics' started by kamchatsky, 4th Aug, 2016.

  1. kamchatsky

    kamchatsky Well-Known Member

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    Well that is the title is from news.com.au ..... Not sure how this would affect Brisbane/GC house prices .....

    Hundreds of Qld businesses tipped to hit the wall

    ________________________________________

    SOUTHEAST Queensland’s construction industry is on the brink of implosion, a new report has warned, with more than 400 businesses tipped to hit the wall in the next 12 months.

    The construction hotspot of the Gold Coast is tipped to suffer most, the August 2016 Commercial Risk Outlook Report by insolvency experts SV Partners predicted, with more than 600 businesses on the state’s Glitter Strip facing potential financial ruin in the next year.

    Brisbane City — currently in the midst of an apartment construction boom that is tipped to stall this year, as thousands of new dwellings flood the market and supply outstrips demand — is also tipped to take a big building industry hit.

    The analysts said more than 300 businesses in inner Brisbane alone are at high risk of going under in the next year.

    The report paints a dire picture for the Queensland economy, with the professional services and retail sectors also due to take a big economic hit.

    (see article in link for the rest of the article)
     
  2. Kangabanga

    Kangabanga Well-Known Member

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    Brisbane
    Brisbane will be hit surely, but Gold Coast economy is largely tourism based. So long as the AUD continues trending down, tourist from around the world should still be streaming in, so their services based companies should be able to survive if not do quite well.

    Not so sure about their developers surviving though, was down there (southport/surfers) couple months back and there were lots of cranes dotting the skyline.

    Pretty sure the propertychatters here have already moved ahead of the pack and sold out of Logan :D
     
  3. Special order

    Special order Well-Known Member

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    Nsw
    Pretty sure your wrong
     
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  4. See Change

    See Change Timing Lord Premium Member

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    Why ?

    Things haven't even started hotting up yet .

    Cliff
     
  5. Azazel

    Azazel Well-Known Member

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    Or never got in it in the first place.
     
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  6. Luka

    Luka Well-Known Member

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    15th Dec, 2015
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    Gold Coast
    Brisbane will be able to see it coming I think (northward of beenleigh) but the gold coast will probably get a shock because there has been little discussion around it and everyone is in fairy land at the moment, even though things have slowed a bit