All signs indicate the property market is ripe for buyers in Brisbane right now. So whether you are looking for the perfect investment property to diversity your portfolio or seeking a house for your family to enjoy, long-term trends show it is the time to buy. Let’s look at the areas where activity is most favourable and above all, uncover what makes Brisbane such a liveable city.
What you need to know about the Brisbane property market
Brisbane is a vibrant city with plenty of employment opportunities, a wealth of entertainment venues and has become home to a staggering 2.2 million people; that makes it the third largest city in Australia and the fastest growing capital. The city enjoys excellent weather, an interesting culture with plenty of things to see and do and a growing number of opportunities awaiting you.
South Brisbane has more recently been a recipient of much investment and development funding and has become more popular with the youth and young families who have been able to enter the property market as first homebuyers.
With a mix of old and new, Brisbane is one city you’ll want to call home and now is the perfect time to seek out the right suburb to invest in.
Property market indicators for Brisbane
In the past couple of years, Brisbane has lagged behind the property markets of Sydney and Melbourne. A recent rise in the number homes being sold and auctions advertised is proving that buyer interest in Brisbane is on the increase. The market is on the move again and property buyers are starting to enjoy the benefits.
Real estate experts are predicting strong property market growth for Brisbane this year, both in the central CBD and on the east side, close to Ipswich and Mt. Gravatt.
Grown in Brisbane is expected to be around the 5% mark in the coming year so if you are in it for the long term, things are looking up.
Grabbing the opportunity to invest has arrived
It’s safe to say that when comparing the property markets of Melbourne and Sydney to Brisbane, that the latter has not seen such significant improvements however signs are changing.
Real estate leaders report signs of moderate growth. It’s early days however it is showing that some parts of the Brisbane market are moving fast and buyers are indulging in high-risk behaviour because they are scared of missing out. Whilst the region has typically seen an even split between home buyers and investors, current indicators are showing it tipping in favour of investors, by as much as 70%.
The time to invest has arrived. Don’t miss out.
In particular, properties valued around the $500,000 mark are in close view, as that is the cut off point for stamp duty exemption for first-time buyers and it is also a common budget for many investors.
A recent multi million dollar refurbishment at Indooroopilly’s shopping centre has shone the light on this area as a great alternative to Brisbane’s CBD. New plans for redevelopment of the cultural centre close to Brisbane’s South Bank is also exciting investors.
Buyers are also starting to show renewed interest in areas that were hit hard by the 2011 floods. Suburbs such as Chelmer, Sherwood and Graceville are showing significant increases in land valuations now so buy now and building your dream home before prices push you out of the game.
Best of all, with opportunities to buy in suburbs in close proximity to Brisbane’s CBD, areas such as Greenslopes, Holland and Stafford are great to consider too. Not only are they all close to public transport but also are perfect for families with great local schools, cafes and retail shops.
Arana Hills is one other area to investigate further with everything you’ll need within walking distance. Recent sales indicate this area is popular with investors as well as young couples and first homebuyers.
Building a new home as an investment property
So when it comes to buying off the plan, purchasing a house and land package or building a brand new home on your own allotment, it’s important to know what style of houses are in demand and which locations are perfect for positioning yourself long term.
Dixon Homes, leaders in new home developments know exactly what buyers want and what features in a home attract the rental crowd. Of course, your tastes must be catered for too, and with over 1600 variations on offer, you are sure to be able to design your dream home.
Vacancy rates in the Brisbane outer suburbs areas are still quite low at the moment, which shows that the market is still relatively healthy from both an investment demand and a rental demand point of view. By buying in established suburbs just out from Brisbane’s CBD, you’ll find property that suits not only today’s local housing demands, but those likely to occur in the area in the future. And that; is smart planning.
Ongoing low interest rates and Brisbane’s affordability means confidence in the Brisbane property market will continue to rise. Buying a modern, affordable home in Brisbane is definitely an investment opportunity not to be missed.