Brisbane's Property Market To Outshine Australia's East Coast
- March 13, 2019
- Ayda Shabanzadeh
- Australian Property Investment
Brisbane’s property market is tipped to outperform the rest of Australia’s east coast in 2019.
Driving Brisbane’s property market beyond Sydney and Melbourne is a smaller gap between earnings and dwelling prices as well as interstate migration.
The latest ABS Data on net interstate migration shows that over the decade to June 2017, Queensland attracted 11,000 additional residents on average each year.
Contrastingly, this was significantly more than the 7200 new residents per year who made Victoria home whilst New South Wales saw an average of 13,650 people depart per annum.
“Net migration rates into Brisbane should drive [property] growth in 2019,” Mr Lawless told the Australian Financial Review.
“It’s more important [than international migration] as interstate migration is likely to include buyers.”
Another factor influencing Brisbane’s bright property outlook is affordability in Queensland’s capital combined with the domestic limitations on credit being offered by financial institutions.
Given that property is cheaper in south-east Queensland than Sydney and Melbourne, investors will keep on buying in Brisbane because it provides them with an easier market entry point.
“Sydney and Melbourne are more affected by credit tightening than Brisbane and price to income rates are higher,” ANZ Economist Jack Chambers told the Australian Financial Review.
“Brisbane will continue to outperform Sydney and Melbourne.”
Ayda Shabanz hosts her next property workshop on Wednesday March 20th 2019 at WeWork in Pyrmont, Sydney. Visit www.growevents.com.au to secure your seat at the FREE event.