There is no boom on the horizon for Brisbane but the Sunshine State presents a balanced market
Brisbane is going through the national downturn with its low prices, which help it to evade the impact of increasingly restrictive loan criteria.
"More affordable real estate prices mean that the Queensland real estate market is generally less exposed to the growing uncertainty surrounding tighter credit criteria and any other likely change. to take effect as a result of the royal commission, "said Patrick Leo, director of James Nihill.
"The real opportunities come when housing in some key areas remains under-supplied and will continue to tighten as the population continues to grow as expected."
In addition to affordability, Nihill notes that the market is mainly supported by high levels of interstate migration, sustained population growth, and infrastructure projects. Areas to watch for include Logan and Ipswich, which are under supply due to anticipated population growth.
"Ipswich is expected to attract a large share of population growth, registering a 144% increase in the number of new residents between 2016 and 2036. Similarly, the population of Logan is expected to increase by 56%, while the city center Brisbane should also receive a 21% increase in its residential population by 2036, "says Nihill.
Brisbane could be in a fragile position
Although she does not experience a notable price drop like Sydney and Melbourne, Brisbane may not be in the best position either.
"We are sticking to positive growth: a rate of 1.1% means that Brisbane is truly the best of the three largest real estate markets in the capital. However, it is important to recognize that investors are worried and the market is slowing down, and it's easy to understand why, "says Queensland Real Estate Institute General Manager Antonia Mercorella.
Federal elections have certainly been a determining factor, as political movements have had a negative impact on investors' views on real estate investment.
"The negative gear is the sacrificial lamb; combine this with a government review of leasing legislation and the likelihood that homeowners will lose certain rights, and investors are questioning, in an understandable way, the value of the property as a tool for creating leases. wealth. Our real estate market is currently in the shadow of big storm clouds, "says Mercorella.
Nevertheless, she is convinced that the Sunshine State has the ability to withstand the storm.
"Restoring consumer confidence and giving buyers access to financing would greatly benefit the market – and the economy of Queensland at large -".
SUBURB TO MONITOR
LABRADOR: Values ​​slip into the tourist destination
The suburb of Labrador, with its name evoking visions of cute puppies, is more than a great nickname: it's a Gold Coast destination known to vacationers for its magnificent views of South Stradbroke Island and its historical charm. ]
For those wishing to stay here more permanently, the suburbs saw real estate prices drop slightly until March 2019. The move was lighter for the value of the homes, which declined by 4.1%, while units fell 6.4%. In the rental market, however, average house rents rose 1.7% to $ 438 a week, while unit rents remained stable at $ 385 a week. Both types of properties record high average yields of 5% and more.
Tourism: Labrador is popular with tourists for its natural attractions and history
Rent: Average weekly rent for houses increased to $ 438 – for units it was unchanged
Top suburbs:
Alderley
,
Keperra
,
Ferntree Gully
,
Lockridge
,
spring wood
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