Is it really Brisbane's time in the sun?
Will the Brisbane property market really grow 20% in the next 3 years as a prominent research house suggests?
To find out what's going on in the Brisbane market and to better understand what could be ahead watch this Masterclass as Brett Warren and I explain what's happening on the ground in BrisbanE
- Also read:Latest property price forecasts for 2024 revealed. What’s ahead in our housing markets in the next year or two?
- Also read:Here’s how to avoid these 12 common reasons property investors fail to build a Multi Million Dollar Property Portfolio
- Also read:Sydney property market forecast for 2024
- Also read:Boom to bust: What makes property prices rise and fall
- Also read:This week’s Australian Property Market Update – Latest Data, State by State November 28th, 2023
Watch as we discuss:
1. What happened to the Brisbane property market over the last few years
- Brisbane didn't experience the slump that Melbourne and Sydney did.
- The media only gives average figures but Brisbane has multiple markets and some have outperformed strongly
- While Brisbane has only experienced 4% growth in the last 5 years some “investment grade” locations have performed much better –
- South – Mansfield 42% - Schools and Infrastructure
- North – Kedron 44% - AirportLink, 2nd Runway, School zones
2. The Brisbane property market is now moving to it's growth stage of the cycle
- Data is suggesting the market is turning around driven by rising immigration and jobs growth which are very closely related
- Both Interstate and Overseas Migration have been rapidly increasing since the mining downturn ended around end 2014
3. Where are the new jobs coming from?
- The 8 major projects that are underway and due for completion over the next 5 – 6 years are set to transform Brisbane
- Headed by the two biggest projects – Queens Wharf and the Second Airport Runway set to create nearly 20,000 additional jobs
- Airport Runway is a game changer, brings Brisbane closer to the rest of the world particularly Asia.
- 6 new Taiwanese and Chinese Airlines are set to fly to Brisbane that have never come here before
4. We list as group of suburbs that are likely to outperform
- watch the video for a list of top performing suburbs
5. Vacancy rates are falling
- With this increase in migration, we are already starting to see more people require homes and as they are moving for work, they want to be as close to work as possible – inner city 10km ring.
- Vacancy rates down from around 3% to 2.5% and falling
- Brisbane has the highest yields in the country – although a secondary consideration, it is still important.
6. What stage is Brisbane real estate in the property cycle
- Brisbane's property market stalled in the last few years, but didn't suffer the same type of downturn that Melbourne and Sydney did
- There is minimal further downside for the Brisbane housing market and now is an excellent time to ride the next property wave in Brisbane