Brisbane market set for another disappointing year: HTW
Anyone hoping 2017 will prove to be “The Year of the Brissie” will probably be disappointed, according to HTW’s February 2017 update.
The valuation firm says the biggest fault line continues to be employment-fuelled interstate migration.
“Truth be told, we can’t see anything on the economic horizon to suggest southern buyers will start heading here in droves,” the report says.
“That’s not to say we should be ignored – on the contrary, Brisbane is one of the country’s most forgiving capital city markets.
“There are very few disappointed long-term buyers in our sunshine state’s big city, provided they stuck with the fundamentals and bought the right property in the right position at the right price.”
HTW says there are opportunities in Brisbane that will deliver a result after a couple of market cycles.
Inner-city property continues to be the strongest performer and the firm says if you’re hoping to get into suburbs such as Paddington, Bulimba, or Woolloongabba, don’t expect to find much under $700,000 as a low buy-in for a modest detached house.
A four bedroom house at 30 Prince Street, Paddington (above) has been listed for $1,279,000.
Similarly a three bedroom house at 47 Ewart Street, Paddington (below) has been listed for $829,000.
“While these areas will continue to offer great potential, make sure you seek good quality property with strong tenant appeal for the best long-term results.
“Middle ring addresses are experiencing some capital gains fuelled by the affordability wave, and steady growth over 2017 is likely in locations such as Kedron and Wavell Heights.
“You’re still in the $600,000-plus price points in order to buy something decent, but as long as the land size and position are appealing, then there’s solid real estate to be had.”
