Brisbane House and Unit Prices Tipped to Rise and Fall This Year
This year the housing market in Brisbane is tipped to enjoy consistent growth – unlike many other major cities which have been gravely affected by the drop in the national economy. But, whilst Brisbane is expected to outperform many other popular cities, those looking to invest in houses may need to contend with price rises this year.
Investing in Property in Brisbane
Although the price of houses in Brisbane is expected to experience a hike, the bright side to this is that investors can earn a larger amount of profit. Those looking to invest in property in Brisbane, the Gold Coast or other areas of Queensland may be eligible to apply for the Queensland First Home Owners’ Grant, which has been boosted to $20,000 until the end of June this year. More details can be found here.
What’s more, if you’re looking to invest in the Logan City Council area, look for opportunities for Auxiliary Dwellings/dual occupancy, Duplexs and Splitter blocks as the council has recently changed their planning processes to enable easy approvals for these types of dwellings. More details can be found here.
Decreasing Demand for Apartments
Apartments in Brisbane are currently dropping in price making them very attractive to investors from all different parts of the country. However, apartments are notorious for price volatility, which often makes investing in the apartment market feast or feminine. And while, it’s important to consider a very possible rise again in the future, a drop is just as likely.
What to Expect
When it comes to the price that you pay, it’s vital for investors to understand exactly what to expect. At the end of November last year, the median price of a home in Brisbane stood at just over $500,000, and was expected at the time to grow to more than $550,000 within the next twelve months. According to experts, the Brisbane property market has been quite consistent over the past few years, and has produced yet another positive result this time around.
Where to Invest
If you’re considering investing in property in Brisbane or surround area’s of South East Queensland, it’s worth looking into which suburbs are in higher demand. For example, Burpengary East has been named as one of the major growth suburbs for this year by experts; with easy access to both the city and the Sunshine Cost, along with lots of infrastructure and some greenery, too.
According to experts, property prices in Brisbane are expected to see a rise of around 4%. However, after what has been described as a ‘tough couple of years’ for the area, things are definitely beginning to look up.
If you’re looking to invest, but would like to back your knowledge with an experienced and professional building team, contact OJ Pippin Homes today. Our professional and knowledgeable team will assist you through the planning, construction and move-in process, we’re investors ourselves so speak from first hand, personal experience and are happy to guide you.