Strong Market Fundamentals
Brisbane’s Property Market Forecast 2024-25
Brisbane’s property market is on a strong upward trajectory, with forecasts from major financial institutions indicating significant growth. According to the National Australia Bank (NAB), the Brisbane property market is expected to see a +7.7% increase in 2024 and an additional +3.0% in 2025. Similarly, Westpac’s forecast aligns closely, predicting an +8% increase in 2024 and a +3% rise in 2025. These projections position Brisbane as one of Australia’s strongest capital city housing markets, showcasing its resilience and potential for substantial returns on investment.
This forecasted growth is underpinned by a number of key factors, including Brisbane’s strong economic fundamentals and a robust job market that continues to attract people from across Australia. The city’s growing population, driven by both internal migration and international arrivals, ensures a steady demand for housing. Furthermore, Brisbane’s strategic investments in infrastructure and urban development are enhancing its liveability and appeal, making it an increasingly attractive destination for property investment.
Growing Demand and Limited Supply
Brisbane’s Migration and Population Growth Driving Demand
Brisbane’s attractive lifestyle and affordability continue to draw Australians from other states, driving internal migration and bolstering the city’s population growth, which in turn impacts Brisbane property prices. By 2032, Brisbane’s population is expected to grow by 16%, with a significant portion of Queenslanders anticipated to reside in Greater Brisbane. This influx of residents creates a sustained demand for housing, ensuring a dynamic and vibrant property market for years to come.
The city’s appeal is multifaceted. Brisbane offers a high quality of life, with a subtropical climate, beautiful landscapes, and a vibrant cultural scene. The city’s affordable cost of living, compared to other major Australian cities, makes it an attractive option for families, young professionals, and retirees. Additionally, Brisbane’s strategic location, with excellent connectivity to other parts of Australia and the Asia-Pacific region, enhances its appeal for both residents and businesses.
Tight Rental Markets Fuelling Property Investment
The rental market in Brisbane has started 2024 with challenging conditions for tenants, characterised by higher rents and near-record-low vacancy rates. The city’s population growth has significantly increased demand for rental properties, keeping vacancy rates low and driving rental yields up. For investors, this scenario presents a golden opportunity to capitalise on the high demand and secure steady rental income.
Brisbane’s tight rental market is also a reflection of broader economic and social trends. The city’s strong job market and growing population are increasing demand for rental housing. At the same time, the limited supply of new rental properties is putting upward pressure on rents. This combination of high demand and limited supply creates an ideal environment for property investors looking to achieve strong rental returns.
Attractive Property Prices
Brisbane House Prices: An Affordable Option
Despite reaching record levels, Brisbane’s median house price remains competitive compared to other major Australian cities. Over the past five years, house prices have grown by 49%, while units have seen a 19% increase. This growth, coupled with Brisbane’s affordability, makes it an appealing destination for property investment.
Brisbane’s affordability is a key selling point, especially for first-time buyers and investors. The city offers a range of property options, from affordable units in the city centre to spacious family homes in the suburbs. This affordability, combined with the city’s strong economic fundamentals and quality of life, makes Brisbane an attractive option for those looking to invest in property.
Median House Price in Brisbane Remains Competitive
In 2023, the median dwelling price in Brisbane rose by 11.9%, with houses selling for an average of $870,000. The market’s growth trajectory is expected to continue, driven by a recovering Chinese economy and strong demand for base commodities. These factors contribute to Brisbane’s attractiveness as an investment hub, offering both growth potential and affordability.
The continued growth of Brisbane’s property market is also supported by the city’s strategic infrastructure investments. Major projects such as the Brisbane Metro, Cross River Rail, and the redevelopment of the Brisbane Airport are enhancing the city’s connectivity and liveability. These developments are expected to drive further growth in property values and attract more investors to the market.
Investment Opportunities in Brisbane Suburbs
Top 5 Suburbs for Brisbane Investors Including Bulimba and Hamilton
Bulimba
Bulimba stands out as one of Brisbane’s most expensive suburbs, boasting a median house price of $1.9 million. Its prime location, high-end amenities, and strong community appeal make it a sought-after destination for investors looking to capitalise on its exclusive market. Bulimba’s charm lies in its blend of modern conveniences and historic character, with beautiful Queenslander homes and a vibrant riverside precinct.
The suburb’s strong demand is also driven by its excellent schools, parks, and recreational facilities. Bulimba is known for its family-friendly environment, with a range of activities and amenities that cater to residents of all ages. This combination of lifestyle and investment appeal makes Bulimba a top choice for property investors.
Hamilton
Hamilton is another prime suburb, offering a mix of lifestyle and investment appeal. Known for its Queenslander homes and proximity to the Brisbane CBD, Hamilton presents a lucrative opportunity for investors seeking a balance of residential charm and growth potential. The suburb’s riverside location, coupled with its upscale amenities and strong community vibe, makes it a popular choice for both residents and investors.
Hamilton’s appeal is further enhanced by its connectivity to the rest of Brisbane. The suburb is well-served by public transport, with easy access to major roads and highways. This makes it an ideal location for professionals working in the CBD, as well as families looking for a convenient and comfortable place to live.
Emerging Markets in New Farm and Nathan
New Farm
New Farm, one of the premium suburbs in Brisbane, is a highly sought-after location due to its unique blend of residential charm and riverside appeal. Its vibrant community, trendy cafes, and green spaces make it a popular choice for both residents and investors. The suburb’s proximity to the CBD, combined with its lively cultural scene, ensures strong demand for properties in the area.
New Farm’s property market is characterised by its mix of heritage homes and modern apartments, offering a range of options for investors. The suburb’s strong rental market and high property values make it an attractive investment destination. Additionally, New Farm’s ongoing gentrification and development projects are expected to drive further growth in property values.
Nathan
Nathan, though lesser-known, holds significant growth potential due to its strategic location and affordable housing options. With a population of over 1,000, Nathan is poised for substantial development and presents a promising investment opportunity. The suburb’s proximity to major employment hubs and educational institutions makes it an attractive option for young professionals and families.
Nathan’s property market is characterised by its affordability and potential for capital growth. The suburb’s low vacancy rates and strong rental demand make it an ideal location for property investors. Additionally, Nathan’s ongoing development and infrastructure projects are expected to drive further growth in property values, making it a promising investment destination.
Regional Growth and Opportunities
Murrumba Downs: A Regional Hotspot in Greater Brisbane
Murrumba Downs is emerging as a regional hotspot, showcasing strong price growth and a low vacancy rate of 0.7%. Its appeal lies in its affordability and proximity to Brisbane, making it an attractive option for buyers seeking value outside the city’s core. The suburb’s strong community spirit and excellent amenities make it a desirable place to live and invest.
Murrumba Downs’ property market is characterised by its strong demand and limited supply, creating a favourable environment for investors. The suburb’s ongoing development projects and infrastructure improvements are expected to drive further growth in property values. Additionally, Murrumba Downs’ proximity to major employment hubs and transport links makes it an ideal location for both residents and investors.
Regional QLD Property Market Trends
The Brisbane market is set for robust future growth, driven by its lifestyle appeal and proximity to the CBD. Identifying areas with the greatest capital growth potential into and beyond 2024 can be challenging, but the Brisbane bayside market stands out as a promising area to watch. The region’s beautiful coastal scenery and relaxed lifestyle make it a popular choice for both residents and investors.
The bayside market’s growth is also supported by ongoing infrastructure investments and development projects. These initiatives are enhancing the region’s connectivity and liveability, driving demand for property and pushing up prices. For investors, the Brisbane bayside market offers a range of opportunities, from affordable entry-level properties to high-end homes with stunning water views.
Why Invest in Brisbane Property Now?
3-Year Property Price Forecast (By June 2027)
Brisbane’s housing market skyrocketed, and Oxford Economics forecasts a strong performance for Brisbane’s housing market over the next three years, with prices expected to continue their upward trajectory. This positive outlook solidifies Brisbane’s position as a prime investment destination. The forecasted growth is driven by a combination of strong economic fundamentals, ongoing infrastructure investments, and a growing population.
Brisbane’s property market is expected to benefit from a range of factors, including a recovering global economy and increasing demand for Australian commodities. The city’s strategic location and excellent connectivity to other parts of Australia and the Asia-Pacific region make it an attractive destination for both residents and businesses. Additionally, Brisbane’s strong job market and high quality of life ensure sustained demand for housing, driving further growth in property values.
Don’t Miss Out on Brisbane’s Growth Potential
Brisbane’s property market has demonstrated considerable promise in 2023, with a 6.2% growth rate, positioning the city as a top performer in Australia’s property landscape. The upcoming 2032 Olympics is expected to further boost Brisbane’s global appeal, coupled with its unique lifestyle and economic benefits.
The 2032 Olympics are expected to have a transformative impact on Brisbane’s property market, driving demand for housing and infrastructure. The event will attract international attention and investment, enhancing the city’s global profile and boosting its economy. For property investors, the Olympics present a unique opportunity to capitalise on Brisbane’s growth potential and secure strong returns on investment.
Conclusion: Seize the Opportunity
Investing in Brisbane property now offers a myriad of advantages, from strong market fundamentals and growing demand to attractive prices and promising suburban opportunities. With a positive outlook for the next several years, Brisbane is a city brimming with potential for both seasoned and new investors. Don’t miss out on the chance to be part of Brisbane’s dynamic property market and reap the rewards of this thriving and vibrant city.
Final Thoughts
Brisbane’s property market is poised for remarkable growth, supported by solid economic indicators and favourable demographic trends. The city’s ability to attract residents, coupled with limited housing supply, ensures sustained demand and robust property values. Whether you are an experienced investor or just beginning your property investment journey, Brisbane presents an unparalleled opportunity to secure profitable returns. Embrace the vibrant lifestyle, economic growth, and promising future that Brisbane offers, and make a wise investment in this flourishing market.
Brisbane’s strategic investments in infrastructure and urban development, including major infrastructure projects like the Brisbane Metro and Cross River Rail, are enhancing its liveability and appeal, making it an increasingly attractive destination for property investment. These major infrastructure projects are expected to drive further growth in property values and attract more investors to the market.
The diversity of Brisbane’s property market is another significant advantage. From luxury homes in affluent suburbs to affordable housing options in emerging neighbourhoods, Brisbane offers a wide range of investment opportunities. This diversity not only caters to different segments of the market but also provides investors with options to diversify their portfolios and mitigate risks.
Brisbane’s tight rental market is also a reflection of broader economic and social trends. The city’s strong job market and growing population are increasing demand for rental housing. At the same time, the limited supply of new rental properties is putting upward pressure on rents. This combination of high demand and limited supply creates an ideal environment for property investors looking to achieve strong rental returns.
In conclusion, investing in Brisbane property now offers a myriad of advantages, from strong market fundamentals and growing demand to attractive prices and promising suburban opportunities. With a positive outlook for the next several years, Brisbane is a city brimming with potential for both seasoned and new investors. Don’t miss out on the chance to be part of Brisbane’s dynamic property market and reap the rewards of this thriving and vibrant city. Embrace the vibrant lifestyle, economic growth, and promising future that Brisbane offers, and make a wise investment in this flourishing market.
