Despite the doom and gloom stories of the national property market, Brisbane is bucking the trend, with
a slow and steady growth of 0.3% to November 2018, and 0.1% in recent months, according to Corelogic.
There are a number of contributing factors including the Coalition Federal Election win, low inflation, strong population growth, an ongoing housing shortage, and low unemployment.
And when it comes to Brisbane in particular, there are many positive factors underpinning our property market.
According to Population Australia, Brisbane’s population has experienced consistent and strong growth for over 8 years, mainly thanks to fertility rates and interstate migration. This trend is expected to continue.
Official population forecasts for inner Brisbane city and suburb areas are way below recent trends. Some experts forecast that there is the need to build approximately 5,000 – 6,000 new dwellings each year across inner Brisbane alone.
Brisbane’s property market is much more affordable than Sydney and Melbourne, according to research by Michael Matusik.
The current price to income ratio required to buy in Brisbane is 5.3 times at a median house price of $524,000. Compare this to Sydney at 10.80 times income, and Melbourne at 8.40 times income with a median house price of $829,000.
High Performing Public School Demand
There is constant and growing demand for housing in top ranked public school catchments such as Brisbane State High School, Mansfield State High School, Cavendish Rd State High School, Mt Gravatt State High School and Indooroopilly State High School.
You can use the Queensland Government School Catchment Map to determine school catchment suburbs.
With growing demand, a housing shortage and a stable market, the Brisbane property market is sitting pretty as a safe and profitable property development investment.
Contact LanCon Qld for more information about quality residential developments in Brisbane.