Now is a really good time to invest in Brisbane property. News.com.au recently reported that ‘Brisbane’s average house prices have climbed again for its 14th quarter in a row’.
Real Estate Institute of Queensland chief executive Antonia Mercorella gave a timely reminder of why investors should find Brisbane extremely attractive saying, ‘there’s a level a fear when buying and selling in Sydney and Melbourne, fear that is just not there is Brisbane’.
Ms Mercorella explains that ‘we prefer this consistent, sustainable growth over a period of time rather than a booming market’ which allows both vendors and buyers to have confidence in what the market is doing so there are no nasty surprises around the corner.
PRDnationwide Research Manager Dr Diaswati Mardiasmo agrees saying ‘Brisbane housing prices didn’t experience the same extreme growth as Sydney and Melbourne did, and so it won’t see the crashes that many are predicting for those markets’.
When it comes to affordability in comparison to Sydney and Melbourne, Brisbane is way out in front. ‘Brisbane had a really strong year in 2015, with the average median house price growth sitting at 4.4 per cent. In 2016 I think we will continue to see growth’, says Dr Diaswati Mardiasmo.
With this kind of steady, seemingly sustainable growth and huge developmental projects in the works, it’s understandable why many first time investors are increasingly seeing the current and potential value of Brisbane property.
Recent analysis by PRDnationwide data highlighted the following eight Brisbane suburbs as the ones to watch in 2016. These hotspots were chosen over others based on their recent growth, popularity on search engines, development spend, investment rates, vacancy rates and rental yields.
We’ve also included the latest property data including median house price (MHP), capital growth rate (CGR) and rental yield (RY) from Your Investment Property as well as each suburbs specific drawcards.
Brisbane investment hotspots to add to your watch list:
Stats: $618,750 MHP, 6.29% CGR and 3.78% RY
Drawcards: Highly sort after area, 10km from CBD, $48.1 million investment in residential development in 2016, new retirement facilities on the cards, schools, big blocks, Carindale Westfield shopping centre, sport complex, gyms, Joe Bradfield Centre, Preston Road Park and Belmont Reserve.
Stats: $485,000 MHP, 6.04% CGR and 4.40% RY
Drawcards: Up and coming area, new Woolworths shopping centre, Australian Catholic University (ACU), ACU oval, 16.4km from CBD, close to Brisbane airport, golf course, Bindha station, Mick Doohan Raceway, schools, close to the beach, city views and large blocks.
Stats: $650,000 MHP, 6.01% CGR and 3.87% RY
Drawcards: $65 million aged care facility in the pipeline, 10.2km from the CBD, Westfield Carindale on your doorstep, Belmont Private Hospital, Whites Hill Reserve and schools.
Stats: $520,000 MHP, 6.84% CGR and 4.10% RY
Drawcards: 12.7km from CBD, Coopers Plains Station, Beryl Roberts Park, Queen Elizabeth Jubilee Hospital, Brittain Park, National Research Centre for Environmental Toxicology, library, schools close to Griffith University and Archerfield Airport.
Stats: $675,500 MHP, 5.79% CGR and 3.62% RY
Drawcards: 12.9km from CBD, $61.4 million invested in commercial development for 2016, schools, Dunlop Park, Nosworthy Park, Benarrawa Park, Francis Lookout, St Aidans Sportsfield, Corinda Medical Centre, Corinda Horse and Pony Club, public swimming pool, Brisbane River views, Corinda station, public golf course, Secret Forest, Farm Produce Farmers Market and Oxley Football Club.
Stats: $389,000 MHP, 4.93% CGR and 4.95% RY
Drawcards: 16.6km from CBD, $18.5 million in residential development in 2016, Boss Creek, Australian International Islamic College, Canine Control Showgrounds and schools.
Stats: $835,000 MHP, 5.12% CGR and 3.27% RY
Drawcards: 8km from the CBD, $55 million upgrade to the Western Freeway, Indooroopilly Shopping Centre, Brisbane River views, Indooroopilly station, cinemas, Moore Park, Clivedon Park, golf club, gyms, close to University of Queensland and Mount Coot-Tha Forest, schools and Jack Bowers Oval.
Stats: $620,000 MHP, 5.11% CGR and 4.15% RY
Drawcards: 12km from the CBD, Brisbane River views, Kingfisher Reserve, library, shopping centre, schools and a medical centre.
With comparatively affordable house prices, an exciting number of commercial and residential developments in the works and a steadily growing property market it’s easy to see why Brisbane is a tempting prospect for seasoned and budding investors alike.
For more on Brisbane’s best suburbs take a look at Brisbane’s 10 most walkable suburbs, the seven top hidden laneway eateries of Brisbane and 10 suburbs set for growth in south east Queensland.
Happy house hunting!