The start of 2020 has promised a strong comeback for the property market in Brisbane. Market analysts are predicting a 3 year boom will return to house prices for the region following the mid year decline in property values for 2019. The middle of the market is said to be driving home price growth according to the Home Values Index. In addition the Queensland capital's affordability and population growth may well mean that the Brisbane house market outperforms Sydney and Melbourne for the 2019 to 2022 period.
If you’ve recently signed a new contract or are looking to buy or sell property in 2020 contact Brisbane’s most trusted conveyancing professionals River City Conveyancing on 07 3013 2300 or via our enquiry form here.
Whilst property values declined by -0.6% for the detached housing sector during 2019 by December the market saw a 0.7% change to end the year off with an overall annual increase of 0.3 per cent in Brisbane. Boasting strong housing affordability and a growing population the outlook for the property market in Brisbane looks positive.
The following influences are predicted to affect the housing market in 2020:
House prices in Brisbane are forecast to increase from 3% up to 7% according to SQM Market Research. The Brisbane suburbs of Greenslopes, Oxley and Kedron are reportedly the ones to watch according to Queensland property commentators.
Each state, area and city in Australia historically has it’s own property market and a recent analysis by BIS Oxford Economics suggests that Brisbane property values could be about to enter a boom period where prices rise as much as 20% over the next 3 years.
Combining Dutiable Transactions The transfer duty on multiple dutiable transactions must be added t..... Read more