Demand for housing in Queensland is expected to increase next year, with its southeast corner being a top spot for potential sea changers, says an expert at McGrath Estate Agents.
Home values ??in Queensland, particularly Brisbane, have shown resilience amid the pandemic, said John McGrath, executive director of McGrath Estate Agents.
In fact, the median house price in Brisbane was virtually unchanged between March and October, while prices in Sydney and Melbourne fell by 2.9% and 5.5% respectively. The latest figures from CoreLogic even show a 0.5% of Brisbane's median price so far in November.
"The Queensland Hard Border has protected the values ??of homes in Brisbane and surrounding areas this year, and once the spire gate is lifted, which is scheduled for Christmas, I think we will see further demand. and significant capital growth in the southeast corner. in 2021, "McGrath said.
Queensland was Australia's top spot for interstate migration last year. It is estimated that 107,000 people have moved to the state, resulting in a net gain of around 23,000 people. During the year Brisbane received 70% of interstate migrants.
McGrath said that aside from returning interstate levels of migration, a new trend is about to emerge within the state that would further stimulate housing demand.
"The pandemic has made people reevaluate their lives and that alone has convinced a lot of people to move north to enjoy the best lifestyle in Australia," he said.
McGrath said officers in Brisbane, Gold Coast and Sunshine Coast observed an increase in inquiries from relocators in southern cities.
This potential increase in demand translates into a phenomenon of fear of missing out on local people, who may have little time to take advantage of market conditions as southern buyers flood the state. # 39; next year, he said.
"Buyers from the South generally bring healthy budgets to Queensland after selling in Sydney or Melbourne, which are much more expensive markets. That, along with locals upgrading their homes instead of traveling, has boosted the market. luxury where there is also a lack of stock, ”said McGrath.
Top suburbs:
woolloongabba
,
queens park
,
wiley park
,
werribee
,
rooted hill
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