Dr. Yun joins real estate leader Brian Buffini on his podcast to provide clarity on current real estate market performance and the timing of anticipated pent-up
Is it a good time to buy real estate in Australia?
What will 2019 bring for the Brisbane property market?
As a property investor, you might be wondering whether it’s a good time to move into themarket continued to grow modestly with the median house price in Brisbane up to $670,000 in December 2018. Conversely, a persistent oversupply of units had the value units in the Brisbane local government area falling 4.4% during 2018, while Greater Brisbane fell 5% over the quarter.. While current property values are weakening in many parts of Australia, reports show that Brisbane continues to rank among the top performing capital cities. Brisbane’s housing
While the unit market witnessed a significant decline, the Brisbane market remains resilient, with livability, affordability, migrations, and steadying supply combating the negative trends. The NAB residential property survey released at the start of the year showed Queensland was the only state to record a positive outlook despite the slowdown of markets in Sydney and Melbourne. While Brisbane does not share the same conditions, investors should still exercise caution when making investment decisions.
As far as knowing whether the Brisbane property market is a good place to invest, it still depends. There are varying factors that affect the housing market in Brisbane and here’s what you can expect for Brisbane’s property market in 2019.
Brisbane house prices are expected to rise faster than any other capital city over the next two years. According to one economist, Brisbane can expect a year of greater stability.
The positive sentiment is shared by Suncorp CEO of Banking and Wealth David Carter, who said:
“It’s been pleasing to see Brisbane’s property market remain relatively resilient over the past 18 months and I believe we will continue to experience the same positive conditions as we head into 2019.”
A house in Brisbane is typically cheaper than Sydney and Melbourne. A good level of affordability increased interstate migration, and investors seeking strong rental yields plus capital growth should help make 2019 a good year for Brisbane houses.
Unit prices are expected to bottom out by early 2019 and then show growth of 3% by the end of the year. Ray White South Brisbane, principal Dean Yesberg saw this as opportunity for:
“If you want to live within two kilometres of the city, this is your opportunity to buy a really good property for $250,000 to $400,000 for a one-bed unit and $350,000 to $500,000 for a very nice two-bedroom apartment.”
Which areas of Brisbane are worth investing in?
As one of the best-performing property markets in Australia, there are locations and that show strong growth potential and choosing the right properties can make for great long-term investments. Ultimately, the Brisbane property market will be driven by demographics – where people want to live and how much they can afford. It’s good to invest in areas where the locals’ income is growing faster than the national averages. Various suburbs in Queensland present a dramatic range in performance, emphasizing the diversity in housing stock.
Within Brisbane, investors are putting interest in properties close to the CBD, which led to above average growth in desirable neighbourhoods such as:
-Hamilton (up 38.%) -Paddington (up 15%) -Bulimba (up 11.3%) -Auchenflower (up 9.5%)
Looking ahead, BIS Oxford Economics forecasts Brisbane leading the capitals with 13% property price growth by 2021.
Ready to invest in Brisbane?
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