Brisbane property market to strengthen in 2013
There were plenty of signs of improvement in the property market in 2012, particularly in the past few months. And according to a recent article in the Brisbane Times by Marissa Calligeros, some people are predicting as much as a 5% increase in Brisbane house prices next year.
Brisbane house prices are tipped to increase up to 5 per cent next year, with investors set to lead the charge, according to Australian Property Monitors.
With the year coming to an end, economists are looking to 2013 with hope the market can continue its recovery.
And there is reason to believe it can, with interest rates now at their lowest point in years.
With rental rental yields of about 5.24 per cent in Brisbane – the highest of any other capital city – investors should return to the market APM senior economist Andrew Wilson said.
This view is supported by the Bendigo Bank/Real Estate Institute of Australia real estate market report according to an article in the Courier Mail recently.
“We expect to see increased growth in the market based on improving affordability, coupled with recent interest rate reductions,” he said.
“The rate cuts were a step in the right direction, and should encourage investors to start looking at investment properties.”
Brisbane property prices are certainly more affordable than Sydney or Melbourne. And with the Victorian property market looking sluggish at best, don’t be surprised to see even more investors turning to South East Queensland in the coming 12 months.