Brisbane housing market will see growth in 2020: SQM Research
Most of Australia’s capital cities will benefit from the interest rate cuts and loosening of credit restrictions, Brisbane in particular looks set for growth even if APRA intervenes, according to Christopher’s Housing Boom and Bust Report for 2020, released today by SQM Research.
In every scenario and barring worst case, Scenario 4, a doomsday scenario, Brisbane is expected to see price growth.
Even in that case Brisbane is expected to see price movements of -3% to +1%.
As a result of the improved international outlook and an existing recovering in mining investment, Brisbane similarly to Perth will benefit and should record price rises in the order of 3% to 6%.
In the base case forecasts, what SQM view as the most likely scenario, there are no changes in interest rates and no intervention by the Australian Prudential Regulation Authority (APRA).
Louis Christopher, when referencing a long term perspective, "better value can definitely found in other markets that aren't Sydney and Melbourne such as Perth and Brisbane."
SQM Research also anticipates an ongoing recovery in the Brisbane and Perth rental markets in 2020, he noted.
Sydney and Melbourne look set for the largest recovery, with Hobart and Canberra next up, followed by Perth and Brisbane while Adelaide and Darwin look set for minimal growth, or a loss.
Read the Christopher’s Housing Boom and Bust Report here.
