Brisbane Property Market Poised for Recovery
Compared to Sydney and Melbourne, the Brisbane property market has been moving sideways.
Analysts are now suggesting things may turn around in 2014 with sales in the second quarter of 2013 reaching their highest levels in the past three years.
A report from the National Property Research Company (NPR Co) shows real estate agents and developers have noticed an increase number of buyers at open days and showing interest on listings.
This coincides with the latest Midwood Queensland Investment Report that highlights the Queensland’s economy will continue to benefit from population growth at records levels thanks in part to the resources sector.
The government understands this growth is occurring and the importance the state will play in the future; this has been noted in The South East Queensland Infrastructure plan. The plan includes 230 projects with a total of $66 billion of planned investments. In the next five years alone, $28 billion will be spent on road and public transport, $5 billion in social and community infrastructure, $4 billion on energy networks and $5 billion on water infrastructure projects.
As the market recovery begins, NPR Co expects the price growth to begin in the middle and inner ring suburbs and gradually move outward. Importantly they suggest the price growth will be a slower more sustainable rise rather than a significant spike which is good news for the long term property investor.
Published on 13th of November 2014 by Marty Stanowich