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Real Estate Brisbane

 

Real estate Brisbane has again come out on top of Australia's booming housing market. Official figures for the June 2003 quarter show Brisbane's rate of growth was twice that of Sydney and Melbourne. Many buyers have been locked out of the Southern states property markets due to high property prices. The lure of relatively affordable good quality Brisbane real estate and the rest of Queensland's South East has meant an influx of buyers.

Brisbane is well placed to weather what appears to be a slowdown in the National property market. There are three key trends which indicate a slowdown: the ageing population; new housing preferences; and migration from interstate and overseas. These factors have seen house prices rise faster than at any time in Queensland's history.

Most analysts have forecast continued growth over the coming 12 months, although it is expected to be at a lower level when compared to the hyperactive market situation of recent months.

Brisbane Real Estate - Retrospectively

Investment growth has been strongest in the southeast of the state, with Brisbane, the Sunshine Coast and the Gold Coast showing the strongest rates of growth.

  • Brisbane -  24 per cent increase
  • Gold Coast - 22 per cent increase
  • Sunshine Coast - 38 per cent increase

The Brisbane riverside suburb of Yeerongpilly led the charge, with its median price rising 66 per cent in the year to June from $204,000 to $340,000. The Gold Coast canal suburb of Runaway Bay was the second hottest market in Queensland, with its median price leaping 60 per cent from $362,500 to $580,000.

Independent analysts Herron Todd White noted in their recent Month in Review newsletter: "Fringe areas of Brisbane remain some of the strongest performing suburbs in terms of capital growth. A large percentage of the market is being driven by investors in these areas."

Real Estate in Brisbane for Investors

Real Estate Institute of Queensland (REIQ) President, Mr Mark Brimble says investors remain the biggest influence on growth, accounting for up to 50% of all sales in some suburbs.

"Properties which offer golf course frontage or lake frontage have been attracting good demand, particularly within the large planned community estates around Brisbane.

Where to buy Real Estate in Brisbane

Money Magazine, in a recent survey, advised buyers to investigate property in suburbs adjacent to top performers. While past performance does not guarantee future growth, it highlights the characteristics that support high demand and above average capital growth.

Brisbane's top performers in the year to June include:

  • Clontarf (unit) - 60 per cent increase
  • Highgate Hill (house) - 17 per cent increase
  • Kuraby (house) - 23 per cent increase
  • Hamilton (house) - 21 per cent increase

Real Estate Brisbane - A Positive Future

Michael Matusik, an Australian Analyst stated to Money Magazine that the southeast Queensland market would remain strong for some time thanks to a shortage of dwellings in the area.

"Despite an increase in new supply over the study period, the rapid lift in population growth across Brisbane sees the city under supplied by around 10 per cent," he said.

In actual fact it has been difficult to find anyone who doesn't have positive things to say about the Brisbane property market. BIS Shrapnel predicts a 36 per cent rise in Brisbane house prices over the next three years.

To view the properties Realistic Property have available in the South East of Queensland, click here. 

 
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