Now is the time to do so! With the consistent economic growth, the Brisbane property prices are set to continue increasing by up to 17 percent over the next 2 years.
Brisbane’s house price rise brings the city to an equal second with Melbourne and only situated a few points behind Sydney in 2020. The growth isn’t stopping there, with Brisbane set to climb a further 7-9 per cent in 2021 which will break the median house price record taking it over $600,000.
The price growth has also been heavily impacted by the low interest rates. Domain’s economist, Trent Wiltshire has voiced that he believes the low interest rates are a dominating reason for the market turn around. Stating these rates will most likely stay the same but are capable of dropping even further.
These growth rates are making Brisbane a very smart place to invest.
As for apartment prices in Brisbane, they are also looking to rise by 6 percent over the next 12 months. Wiltshire explains that as the construction cycle boom in apartments is coming to an end, this will allow room for the much need price growth for apartments.
What makes Brisbane the place to be?
The projects underway in Brisbane that are working towards improving livability and community, while bringing about new job opportunities, are contributing to the investment and population spike that is set to continue. Brisbane is appealing for the lifestyle and community feel it has to it. Combing this will only bring about more appeal to interstate and international buyers.
Three major projects happening in Brisbane are the Queens Wharf Resort and Casino, Northshore Hamilton Ferry Terminal and Brisbane Airport. To read more about what these infrastructure projects are bring to the city head to our recent blog post, “Why You Should Invest in Brisbane’s North West”
Want to know more about Brisbane house prices?
If you’re eager to be a part of one of Australia’s faster growing economies, we can help find the perfect investment or forever home.
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