Brisbane has recorded record Median Prices. Continued growth, low vacancy rates and strong yields continue to drive investment while interstate migration, population and jobs growth fuels demand. Brisbane is expected to grow approximately 11% over the next two years, with low interest rates this makes the SEQ property market almost bulletproof.
The latest Real Estate Institute of Queensland Market Monitor, to be released today, shows the annual median house price within the city’s local government area rose 1.1 per cent in the 12 months to the end of December to reach a new high of $675,000.
According to the REIQ, Brisbane’s housing market “continues to be one of the nation’s most consistent capital-city performers”, delivering moderate but sustainable price growth — so far defying the downturn gripping Sydney and Melbourne.
Mr Walsh is forecasting Brisbane to be a standout performer over the next three to five years.
“We’ve had wages increase, job numbers increase, more people are moving to the area and now all these green shoots are showing we’re ready for a boom in Queensland,” he said.
“It’s got all the ingredients for a boom, we just haven’t seen it just yet.”
Over the next six years, the top 10 infrastructure projects in the pipeline are forecast to inject $17 billion into the city and result in significant job creation.
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