29 Jan 2018

Brisbane property market is predicted to do well in 2018 on the back of interstate interest

PROPERTY markets are tipped to remain bouyant in 2018 according to the Real Estate Buyers Agents Association of Australia (REBAA).

It said markets in Brisbane and Hobart would do well as a result of keen interest from interstate buyers priced out of Sydney and Melbourne markets.

REBAA Queensland representative Zoran Solano tipped the top end of the market would start to move in Brisbane with more families moving up from Sydney and Melbourne.

“Investors should look to capitalise on this with the premium rental market staying buoyant going into 2018 within the $800 to $1500 per week range renting quickly,’’ he said.

Mr Solano said developers would shift their focus from off the plan apartments to house and land in 2018 and townhouse projects.

For owner occupiers he warned that suburbs within 10km of the CBD could experience a two speed economy - locals vs interstate buyers.

This, he said, would push up prices in those areas.

Mr Solano said first time buyers should perhaps consider finding properties that were afforable and that they could add value to through renovation rather then buying newer homes much further away from the CBD.

Property listings may have slowed down in December but there are still more homes on offer

WHILE property listings have dropped during the past month, there are still more homes listed for sale than at the same time last year.

The latest figures from SQM research reveal there are 30,040 residential properties listed for sale in Brisbane, that’s down 5.4 per cent on November but was 3.2 per cent higher than the same time last year.

Nationally listings dropped in every state during December, but year on year listings were up in most capital cities.

SQM Research managing director Louis Christopher said it was not unusual to see a slowdown of listings during the festive season.

The report also found that while listings may have been down in December, asking prices were up.

In Brisbane asking prices for house rise by 2.4 per cent and for units by 0.9 per cent.

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