While the Sydney and Melbourne property markets are showing signs of cooling down, in terms of property value growth, Brisbane’s property values are tipped to heat up over the next year, thanks to better affordability, more demand, and less supply.
A surge in freshly advertised listings through December has been a key factor in taking some heat off the Melbourne and Sydney housing market.
Brisbane is going to be in the spotlight for stronger rates of growth compared to the other capital cities. It hasn’t had substantial growth in years prior and only just seen the market accelerate over the last 18 months – 27% growth over the last 12 months, surpassing Sydney at 25.3% and Melbourne at 15.1%.
Brisbane hosting the Olympics in 2032 will be Queensland’s golden ticket to property value!
Everyone is excited about the Olympics – the Brisbane market will continue to grow (at a stronger rate) in comparison to Sydney and Melbourne and Hobart.
Where can you get more sizzle for your buck?
The government is working on a 10-year plan to spend huge bucks on infrastructure – that will create jobs, population growth, and draw people from other parts of Australia, chasing those jobs, which will put additional demand on housing.
With commitments from the government to deliver infrastructure, investors will follow the infrastructure investment – growth in property is in the lead-up to the event.
Houses and units in a 10km radius of the CBD – including Hamilton (where the Olympic village will be built), Tennyson (which will house the tennis), Chandler (which will host the gymnastics,) and Woolloongabba (home to The Gabba Stadium) have all been tipped to bring home the gold, with buyer appetite already rising.
In worldwide real estate searches, Brisbane and the Gold Coast were recently rated among the top cities, so you can expect international competition from buyers to ramp up especially since Australia has opened its borders.
It might be worthwhile getting a head start in the race to buy up north before the market gets too hot!