Brisbane has not yet reached the top of the market, but has remained comfortably in the middle while recording what the CoreLogic Home Value Index for December 2019 describes as "the conditions for growth the stronger ”among the capitals, while the value of properties increased by 0.7% over the month.
Expectations for housing prices were high for the Sunshine State, according to the 2019 ANZ / Property Council survey of consumer sentiment, although sentiment was only moderate. The 2019 Real Estate Investor Sentiment Survey by Your Investment Property, Property Update and Onthehouse indicated that, of nearly 2,000 investor-respondents, 37% owned investment property in Brisbane. Brisbane also outperformed Sydney in terms of the capitals with the best potential for capital growth over the next five years.
"The Queensland real estate market has started to show signs of growth as CoreLogic reported Brisbane with 2.4% growth in December 2019 compared to the previous quarter," said Dennis Wong, research specialist at real estate data at Real Estate Investar.
"Over the past 10 years, Queensland has recorded consecutive population gains each year and has achieved the highest average annual gain of 11,600 people. By the end of June 2018, the Sunshine State had registered a net interstate migration gain of 24,700 people. »
Infrastructure projects have helped generate interest in various areas of the state, and as Queensland has long served as an alternative to Sydney and Melbourne, the growth of prices seen in these cities has boosted parts of the Sunshine State. A Ray White Surfers Paradise press release says that the Gold Coast in particular is being watched by interstate investors who have taken note of the region's ability to weather the recent recession due to its strong regional economy.
While domain economist Trent Wiltshire predicts a further price increase on the horizon for Queensland, he warns investors to keep their expectations for the rental market realistic.
“Brisbane unit yields have increased a little, but that's because unit prices have dropped a little. I think we will see that in all areas: yields will start to drop. Interest rates are falling – which squeezes yields everywhere. And it looks like we're going to see some price increase, so we'll see rents start to go down, "said Wiltshire.
SUBURB TO WATCH
ROBERTSON: A story of two divergent markets
[Roberts9002] The suburb of Robertson in the outer ring of Brisbane is an interesting case, as its home and unit markets couldn't be more different.
Homes sell for high prices, at a median of over $ 1 million. This market has also grown steadily over the five years ending in December 2019. In contrast, the median unit value has been less than $ 350,000 due to the constant decline in prices during the same period. However, average unit rental yields reached 7.1%, and rental rates skyrocketed by 12.4% to reach a median announced weekly value of $ 478.
Young occupying owners dominate this suburb, families representing almost half of the population. This could explain the popularity of the houses.
Population: The suburbs have a large population of homeowners and families
Price: The median price of homes is more than $ 1 million, while housing is very affordable at less than $ 350,000
Top suburbs:
leumeah
,
tweed heads south
,
chermside
,
toowong
,
tuart hill
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