At times it is possible to become so engrossed in analyzing weekly data concerning the Australian economy and housing markets that we neglect to recap on the bigger trends unfolding over the years ahead.
Various Australian cities face considerable challenges and different factors will determine growth.
Is it the right time to follow the lovely weather and go for the Brisbane property market?
BRISBANE PROPERTY MARKET PRICES
PRICE GROWTH FOR BRISBANE AHEAD
There is an eight year property cycle even though a lot of literature suggest a seven year cycle – but the Australian statistics suggest it lasts about eight years.
For more than five years, South East Queensland real estate has been on the back burner and growing less rapidly than New South Wales for instance. A lot of factors that has been contributing to the slow growth has been cyclones & political uncertainty, financial meltdowns globally and floods to name just a few.
But now it looks like South East Queensland has just started to enter its growth phase, at last. It is likely to be growth for Brisbane and surrounds, and we are looking forward to seeing the results of the long wait.
We looked at detached house sales for the last 12 months in South East Queensland:
- Sunshine Coast 5,800 sales (up 26% on year before)
- Moreton Bay 6,650 sales (up 21%)
- Brisbane City 16,000 sales (up 14%)
- Redlands 2,600 sales (up 23%)
- Gold Coast 6,500 sales (up 22%)
- Logan 4,000 sales (up 18%)
- Ipswich 2,800 sales (up 12%)
- Lockyer Valley 526 sales (up 29%)
- Toowoomba 3,250 sales (up 25%)
The upward trend is promising for property investors and property owners alike in Brisbane.
Would you like to know what your property in Brisbane is worth?
Ask us to help you assess your property’s current market price.
Get in touch with us to request an appraisal.