Brisbane is one of the great cities in the world that is financially stable and developing rapidly in comparison to other capital cities in Australia. All the crucial factors like future economic prospects, affordability and liveability indicate that the Brisbane property market is a place where you can confidently invest. Brisbane property market is performing superbly, but many new investors have a common doubt in their mind – whether the property market will perform equally well over the next few years. Well, numerous property experts and experienced investors believe that some of the locations in Brisbane, Queensland have great growth potentials and appropriate property in such a place can be an excellent investment. However, there are also a few locations that might not offer as much profit as your expectation. So, before you go for the investment, do your research correctly and get the best investment lessons.
Property Market Prices in Brisbane
Values of residential property were almost unchanged in Brisbane Property Market with only 0.1% growth in the last three months, and it was only 0.8% in the previous year. However, several office properties in good location showed capital growth in double-digit over the last year. Several properties overperform while many underperform – that’s the ultimate fact about real estate. The slowdown in capital gain was witnessed despite the population growth in Queensland and improvement in the jobs market in comparison to previous years. Experts and experienced investors expect Brisbane to be one of the top property markets over the next few years. The property values in Queensland with Brisbane, in particular, could grow up to 4% in 2019 and 5% next year.
The trend in Brisbane’s Property Market
Queensland’s capital city is leading the real estate performance for the first time in more than a decade. It has outclassed the performance of other capital cities like Sydney and Melbourne. New figures show that Brisbane is the only capital city to record an increase in real estate values over the one year. The last time Brisbane did that was in 2007 before the market witnessed the Global Financial Crisis. As per latest data, Queensland has become one of the top destinations for internal migration in Australia, taking over Victoria. The overseas migration is also at its best in years, and this means that the demand for property will further increase. But always remember that like any other market, this market will also be a little uneven.
Although some areas underperformed in the last year, more than 50 suburbs performed decently and saw growth. And almost a dozen suburbs in Brisbane saw a price growth in double-digit over the 12 months.
The Brisbane property market has shown stability over the last few years, and experts believe that it will continue to be stable. If you can invest in the right property in a good location, it can be a significant investment in the long term, and you can expect more than a decent amount of profit.