With job creation at one of the highest rates ever, Houston is currently riding a wave of economic prosperity. Along with buoyant employment, Houston’s property market is also enjoying record activity levels with short supply and a rise in rental prices.
The two states of Texas and Florida dominate the Forbes Where to invest in 2015 list with Houston and Orlando property featuring in the top five. The two cities stand out for their high population growth, strong job creation and undervalued property prices. As a result, Houston and Orlando are “safe bets to invest”, for both first-time buyers and buy-to-let investors.
All the economic figures point to a buoyant year for the US economy in 2015. This year’s strong employment and financial growth will also boost the US property market, forecast to grow significantly. Property experts have highlighted ten areas for particularly strong activity in 2015 and Houston features as one of them.
With the local economy and job creation growing at a ‘blistering’ pace, property in Houston is in seriously short supply. Latest figures point to one of the lowest inventory levels in a city where rentals are perhaps the only way of satisfying demand.
After a quieter month in May, the Houston property market returned to frenzied activity in June recording the highest prices ever and quickest turnover levels of properties. According the experts, this illustrates that demand in the market continues to far run ahead of supply.
Real estate experts recently analysed the property market in Houston and reached a number of key conclusions. Their findings confirm the investment value of apartment accommodation in the city and the tremendous potential behind Houston’s rental market.