Brisbane property market continues to heat up

 

 

Brisbane’s property market appears to be getting hotter and hotter – just ask the experts. Many are saying that it comes down to several factors, including Brisbane’s affordable property prices and strong yields. Two convincing influences for any buyer or investor, especially when compared to its south-eastern capitals – Melbourne and Sydney!

 

Principal of HS Brisbane Property, Hannah Schuhmann says that she has noticed a strong positive shift in the local Brisbane market. She feels this shift is coming from a combination of factors – but the most convincing would have to be the current price of property in Brisbane.

 

 “When you look at how affordable Brisbane property and the current opportunities available, it is no wonder we are seeing an increase of buyers coming from all over – including locally as well as from interstate and overseas,” says Schuhmann.

 

“Investors from the southern states have begun migrating up north, attracted to Brisbane’s affordable prices and stronger yields.”

 

Mitch Koper, media manager at CoreLogic believes that people can’t find affordable properties with the yield that they’re looking for in other cities; the returns are simply not there.

 

“In Brisbane, you can buy a house for [$600,000] and get a return of 7 or 8% in some cases.

 

It’s a very reasonably priced market,” said Koper.

 

But it is not just buyers moving up from other Australian cities. According to the Real Estate Institute of Queensland (REIQ), demand for Brisbane homes is also particularly strong among several overseas buyers including those from China, United States, New Zealand, and the United Kingdom – just to name a few!

 

Seems the Queensland state government is also very aware of the attraction from overseas buyers.  In June 2016, in an effort to avoid the market from overheating, they imposed a 3% surcharge on foreign purchases of houses and apartments.

 

Schuhmann says that buyers, particularly investors who are in it for the long haul, are on the hunt for property that offers value for money. In other words, they are looking for a CBD apartment that is affordable (for them and their tenants) and offers a strong return on their investment dollar.

 

“Smart buyers and investors will do their homework and purchase property which presents solid growth potential,” said Schuhmann.

 

“The price of property here in Brisbane means they can have their cake and eat it too – and that offer is very appealing to many homeowners and investors these days!”

 

Adding to this appeal is Brisbane’s current state of economic growth – from massive infrastructural developments to increasing employment opportunities - it is no wonder that buyers are starting to realise the potential that lies here in Brisbane.

 

Here at HSBP, we live and breathe Brisbane property. So if you are after more information on the lucrative opportunities at hand in this growing city, that just keeps getting hotter and hotter, contact our team on 0419 782 133.

 

 

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