Investors are looking to Brisbane as the next hot investment location, and those who already have rental properties should be hanging onto them.
Since the Sydney and Melbourne booms ended, the focus has switched to the smaller capital cities, with Brisbane high on people’s wish lists.
Brisbane has always compared well on affordability and rental yields – and now is poised to deliver capital growth, according to two major forecasters.
Leading mortgage insurer QBE predicts Brisbane will lead capital city Australia on price growth for the next three years. In its Australian Housing Outlook 2019-2022 report this month, QBE forecasts median house price growth in the Queensland capital to average 6.4% per annum over the next three years, boosted by an improving economy, affordability and tourism.
BIS Oxford Economics has joined QBE is forecasting 20% growth in Brisbane’s median house price by 2022 – compared to 6-7% growth in Sydney and Melbourne.
With Brisbane’s vacancy rate dropping from 3% to 2.4% in the last 12 months, rents are rising, which means yields will further improve. Historically, rising rentals have been a precursor to rising prices in our major cities.
In this free webinar Terry Ryder spoke with local investment property expert Mark Shorrock, Director of Bluestone Property Management, for his take on Brisbane’s prospects, why it’s a great time to invest in Brisbane and the locations tipped to provide the best outcomes.