Real Estate Trends in Brisbane, Australia
Brisbane realty has seen slowdowns just like other Australian regions in the last few years as realty and the financing for it went through national constrictions in lending credit. However, recent research is now showing signs that the Brisbane market is heating up again, particularly with its own locals getting into the picture. With domestic investment coming back to Brisbane due to general recovery, a high number of real estate buyers in recent months have been or are previous Brisbane property owners or residents. In fact, more than 85 percent of buyers are originating from the Queensland region, according to one survey.
A good portion of the Brisbane purchasing occurring now is primarily rooted in inner city buyers moving out to the neighbourhoods for room to grow, invest, raise families and migrate away from the urban center. A miniscule 1 percent of buyers were actually true foreign property buyers from out or region and out of country.
Four years ago ANZ Bank predicted that the regional area was going to see a continued boom in demand, with a housing shortage pushing pricing up. Much of the demand was expected to be pushed by continued immigration into the country and the Brisbane area. In reality, this expected push dried up a bit, but instead in 2012 the sales are being generated by homebuyers already living in the area. As a result, Brisbane over the next five years is now expected to again see a housing shortage, a rental shortage, and related rising prices due to demand. Gentler tax policies make owning and selling property more profitable in the area as well, further helping generate business.
All of the above means that those who have the ability should likely buy now before prices rise further, making real estate ownership entrance more expensive. Landlords and those renting out residential property should position themselves in the next few years for significant higher rental demand, especially in areas near major public transport centers. Finally, those selling in the Brisbane area should wait for pricing to improve as all signs seem to be pointing for a higher transaction level.