Brisbane's housing market is expected to maintain its strength this year as buyers continue to grab properties as stock remains low.
Melinda Jennison, Managing Director of Streamline Property Buyers, said housing demand continues to rise in Brisbane due to interstate migration, the wide array of stimulus packages and positive changes in market sentiment .
"Tight inventory levels combined with an increasing number of buyers create urgency among buyers, which in turn adds to the upward pressure on property prices," said she declared.
Jennison said first-time homebuyer activity is one of the crucial things to watch this year. The segment appears to be particularly interested in homes priced under $ 500,000.
"We expect this to continue due to the low interest rates and the fact that it is often cheaper to own a home than to rent in many areas of Greater Brisbane", she declared.
Investors are also expected to remain active in the coming months. A high level of interest can be observed for homes with prices up to $ 700,000. Brisbane's attractive yields and cheaper borrowing costs are two factors that would likely keep investors on their toes this year.
Justin Nickerson, director of Apollo Auctions, said it was also important to keep a close watch on the suburbs of Brisbane & # 39; s "inner outer ring". These suburbs are three to five kilometers from the CBD.
"The perfect place for Brisbane has always been the 'outer-inner ring'. The suburbs in this region have grown steadily over the past four years, but this growth continues it or will people look for more value further? " Nickerson said.
Adam Empringham, Sales Manager at Image Property, said lifestyle properties, including those with water views, will continue to be in high demand not only in Brisbane but also in the South East Queensland region.
"The lifestyle market is also driven by the interstate market because it is very, very good value for money in comparison. So this will be a key market to watch out for, especially in the Sunshine Coast, ”he said.
Empringham said markets on the outskirts of towns would also be in demand.
"These market sectors are definitely going to be ready to grow and this is because not everyone has to go to the office anymore," he said .
Top suburbs:
st peters
,
woolloongabba
,
rope crossing
,
Springwood
,
Murdoch
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