Brisbane Firms As Best City for Aussie Property Investment
- October 10, 2017
- Ayda Shabanzadeh
- Australian Property Investment
Australian property investors are no longer interested in Sydney and Melbourne, with Brisbane emerging as the favoured destination according to a recent CoreLogic analysis.
Facing sky high prices and a widespread belief that both southern cities have peaked, investors are increasingly looking towards Queensland’s capital to enter the market.
CoreLogic’s Head of Research, Tim Lawless, told the Sydney Morning Herald that Brisbane is now first-choice because of rising job prospects and interstate migration.
“I think one of the missing pieces of the Brisbane puzzle up to date has been the fact that there hasn’t been much job growth,” Mr Lawless said.
“That is one of the reasons why we haven’t seen Brisbane values growing to the same extent as Sydney and Melbourne, despite affordability and the decent rate of population growth.
“But that seems to be changing now.”
Brisbane’s soaring market outlook arrives on the back of speculation that the city would soon be facing an oversupply.
Having now conducted a thorough analysis of Brisbane’s property market, Mr Lawless concluded that the threat of such a crisis has subsided.
“Brisbane has already moved through the peak of the construction pipeline – back in December last year – so it is already starting to come down a little bit,” he said.
Ayda Shabanz is hosting The Road to Property Ownership on Tuesday October 24th 2017 at the Emporium Hotel in Brisbane, Queensland. Visit www.growevents.com.au to secure your seat at the FREE event.