The sun continues to shine on the Brisbane property market
As the sun sets on the first month of 2019, now's the ideal time to look back on last year and how it will be remembered for all things property throughout Australia.
Many of us will remember it as the year of the changing of the guard, Brisbane outshining the nation's two biggest housing markets and defying the property downturn gripping other states.
Home values in 2018 in the Queensland capital rose a steady 0.3 per cent at a time when they fell 5.8 per cent in Melbourne and 8.1 per cent in Sydney — the biggest annual decline in 35 years, according to CoreLogic.
But the best could be yet to come.
"History proves that when Sydney tanks, the pendulum swings to the Gold Coast." John Fitzgerald, author of ‘7 Steps to Wealth’.
The consensus is that downsizers from Sydney and Melbourne will continue to cash out and migrate north in search of affordability, lifestyle and bang for their buck.
Growth suburbs in Brisbane’s east, Ipswich and the Gold and Sunshine coasts will be regions to watch in the new year, according to the experts.
The state’s infrastructure pipeline, couple with strong interstate migration and improving jobs growth, will help the market, although lending restrictions and uncertainty around the federal election will continue to impact borrowers.
A number of Brisbane properties are also tipped to surpass the $10 million mark if they can find buyers in 2019, with the prestige market expected to continue to outperform.
All in all, a good year ahead indeed.
