Brisbane witnesses growth in its real estate market

1 min read

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Brisbane is the foremost property market in Australia at present, based on key indicators of performance. This achievement is the first one in a whole decade and as per reports, Brisbane is the sole capital city to witness home values increasing over the last month, week, 12 months and year-to-date. This last took place in the year 2007 for the capital of Queensland. Home values in Brisbane witnessed an increase of values by approximately a third over the last 28 days as per reports. Brisbane’s home values are now higher by 1.2% as compared to the same period in 2017.

Steady growth is being seen in Brisbane with increasing migration to Queensland. Brisbane may see further growth in home values due to higher demand generated from the strong local economy, comparative housing affordability and growing migration levels. For example, unit values in Tennyson, the suburb in Brisbane, have increased by 45% over the last year while Hamilton has seen an increase of 27% over the last 12 months as per studies. Several parts of Logan and the inner city region are majorly witnessing excellent growth as far as Brisbane is concerned. There is high value stock in the inner city region which is drawing several investors from Melbourne and Sydney while Logan City is seeing high demand from first-time buyers and has sufficient stock of affordable housing units.

Rochedale is another Brisbane suburb which has witnessed considerable home value growth. Rochedale South is drawing higher investments due to its comparatively affordable prices. Grange is another inner-city suburban zone, prices are already growing and there is high interest from buyers. Brisbane has several upcoming infrastructure projects and will continue drawing buyers for professional purposes. As a result, housing growth should continue steadily here according to experts. Other suburbs like Sandgate, Northgate, Wilston, Sunnybank, Bardon, Kangaroo Point and Seven Hills are also witnessing excellent growth in terms of prices and real estate sales alike.

 

Resident Editor