I’d like to share 3 things that you really should know about Brisbane property.
Recently Dr Andrew Wilson, Australia’s leading independent property economist, took the time to speak to many of our clients at our Brisbane Property Seminar.
In case you missed it, here are 3 of the key points he made;
1. Brisbane is leading the nation with new arrivals from interstate
We know population growth is one of the big drivers of our property markets.
Queensland is currently the destination of choice for interstate migrants.
We haven’t seen this surge of interstate migration since the mining boom.
2. Brisbane is an Undersupplied Market
Property prices rise due to demand being greater than supply and currently there is a shortage of around 48 properties per week in Brisbane.
Of course there’s still an oversupply in some locations – but they’re not really investment grade locations anyway.
3. Stronger Rental Yields are Beginning to Attract Investors
Investors have been missing from the Brisbane property market for a little while now, but Dr Wilson believes with falling property values in Melbourne and Sydney and substantial growth and higher yields forecast for Brisbane investors will return.
In fact that’s exactly what we’re experiencing at Metropole in Brisbane – more local and interstate enquiries – in fact we haven’t see so much investor interest in Brisbane for a decade.
There was so much valuable information on the day that it would be difficult to sum up in one email.
Andrew really emphasised the strength of the market and some of the great opportunities that lie ahead.
Our team has noticed a significant increase in local consumer confidence with many more homebuyers and investors showing interest in property.
At the same time we are getting more enquiries from interstate investors then we have for many, many years.