Is It time to buy, hold or sell?
As the housing market continues to soften, interest rates creep up and banks tighten lending standards, it’s the million-dollar question many Queenslanders are asking themselves.
According to industry experts, population growth in Queensland’s regional areas is now on par with some major capitals, as interstate migrants arrive in their numbers, which can be seen as a positive to many.
And as a capital city, Brisbane remains one of the few markets with a positive outlook in the national property scene.
Even overseas migrants are starting to opt for Brisbane, with over 12,000 new residents populating the city in the year to June 2018.
This is all really good news for investors wanting to make continuous returns.
So what’s ahead?
Well, it seems that Brisbane’s property market will continue to perform well at a time when many other markets are languishing.
According to brisbanebuyersagent.com.au, however, some areas under-performed, 68 suburbs far exceeded the average level of growth and almost a dozen Brisbane suburbs had double digit price growth over the last year.
Among the best performing suburbs over the past 12 months were Indooroopilly, where the median house price increased by 24.1 per cent to $1.01 million and Paddington where the median house price rose 19.8 per cent to $1,269,500.
Brisbane real estate has been buoyed by steady population growth driving demand and underpinned by good economic fundamentals including jobs creation and a low unemployment rate. This growth has been reflected in the number of pre-purchase building and pest inspections orders which are being placed.
Brisbane Property Market Forecast Snapshot
Median house price in June: $550,000
Forecast median house price June 2021: $620,000
Growth 2018 to 2021: 13%
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