Brisbane Property market – perking up at last?

The Brisbane property market is on the move.

It did not suffer the deep downturn the southern states experienced in 2018-9 , and after a lacklustre decade and a mild price correction in the first half of 2019, it is showing distinct signs of a cyclical lift according to a recent Westpac Housing Market Update.

Here’s what the Westpac report said…

Brisbane prices have seen the best 3 month gain in over 5 years, the November month shaping as the strongest monthly gain in over a decade.

Lifting buyer sentiment points to more firming ahead although it remains well short of the ‘take-off s’ seen in NSW and Vic.

Affordability remains more constructive in Queensland, suggesting there is more ‘head room’ for sustained gains.

The sub–regional figures show Brisbane’s inner city and West, and the Gold and Sunshine Coast leading the pick-up.

Queensland’s regions continue to show a more varied performance with some previously weak mining areas seeing recoveries and tourism centres in the far north picking up but prices declining significantly in drought-affected areas.

The Queensland Consumer Housing Sentiment index has improved significantly over the 3 months to November and is now pointing to a likely pick up in demand in early 2020.

However, for now turnover is still tracking lower.

The gain in sentiment has been mainly around ‘time to buy’ assessments with price expectations flattening out at a moderately positive level.

Cooling labour market expectations have been an off setting drag.

The picture around listings is more subdued with sales broadly in line with new listings and unsold stock stuck at above average levels.

Rental vacancy rates remain very tight and dwelling approvals near historic lows.

Source: Westpac

If you’re looking at buying your next home or investment property here’s 4 ways we can help you:

Sure our property markets are improving, but correct property selection is even more important than ever, as only selected sectors of the market are likely to outperform.

Why not get the independent team of property strategists and buyers’ agents at Metropole to help level the playing field for you?

We help our clients grow, protect and pass on their wealth through a range of services including:

1. Strategic property advice. – Allow us to build a Strategic Property Plan for you and your family.  Planning is bringing the future into the present so you can do something about it now! Click here to learn more
2. Buyer’s agency – As Australia’s most trusted buyers’ agents we’ve been involved in over $3Billion worth of transactions creating wealth for our clients and we can do the same for you. Our on the ground teams in Melbourne, Sydney and Brisbane bring you years of experience and perspective – that’s something money just can’t buy. We’ll help you find your next home or an investment grade property.  Click here to learn how we can help you.
3. Wealth Advisory – We can provide you with strategic tailored financial planning and wealth advice. Click here to learn more about we can help you.
4. Property Management – Our stress free property management services help you maximise your property returns. Click here to find out why our clients enjoy a vacancy rate considerably below the market average, our tenants stay an average of 3 years and our properties lease 10 days faster than the market average.

 

from Property UpdateProperty Update https://propertyupdate.com.au/brisbane-property-market-perking-up-at-last/