The Brisbane property market is hot.
So hot in fact that it’s often a challenge to work out what’s real and what’s just hype.
Today I’m going to discuss some Brisbane property trends that should be on your radar as you plan your next (or first) property investment.
Steady as she goes!
Despite what the media will tell you, property values in Brisbane remain steady.
In the latest Australian Housing Outlook Report, QBE are reporting that the price of an average Brisbane home rose by 0.6% to $552,300. Median unit prices have dropped 1%, largely due to an oversupply of apartments both in and around Brisbane.
What’s exciting for investors is the forecast for median house price growth, which is predicting that housing prices are set to skyrocket 11.3% in the next three years. Coupled with a population boom and increases in infrastructure, it’s not hard to see that Brisbane is a great place to invest.
Boom goes the infrastructure
The Queensland Government is making great strides in growing the local economy and infrastructure. Latest reports indicate our fearless leaders aim to roll-out a total of $45.8 billion worth of infrastructure over the next four years. These two factors combined result in greater property values and interstate migration.
The development boom is only one part of the reason why so many people are moving to Brisbane. People are attracted to our quality of life, as well as the affordable standard of living the Sunshine State capital has to offer.
Rents on the rise
This third trend is especially promising for investors looking to rent out their property. Brisbane’s rental market is relatively healthy and stable, with vacancies trending at only 2.2% in June of 2018. With increases in population and the craze for a more convenient lifestyle, demand for rentals is on the rise.
What does this mean for you?
So now you’ve seen the data, here a few reasons to be optimistic about the future of the Brisbane property market:
• More jobs are created in Queensland than any other state or territory
• More people are moving into Queensland than anywhere else
• Major projects are underway across Brisbane
• Brisbane is still one of the country’s most affordable capital cities for residential property
Now is great time to get into the Brisbane property market.
Keep up to date with the latest trends
With 2018 soon coming to a close, it’s crucial that you look ahead and keep up to date with the latest property market trends. Follow Adpen on social media or attend one of our events to make sure you never miss a thing!