Buying property in Brisbane continues to be a solid choice for expats living in UK, USA, Hong Kong, Singapore and other countries seeking a combination of price growth and strong yields as well as owner-occupiers after value for money.
The Brisbane and entire South East Queensland region continues to see strong population growth, especially over the past 12 months on the back of many people choosing to move away from the larger cities.
With median house prices also around half as much as Sydney, buying property and investing real estate in Brisbane is an appealing proposition for all types of property buyers.
Investors Buying Property in Brisbane
One of the major appeals of the Brisbane property market is the combination of strong price growth, coupled with higher rental yields.
In places like Sydney and Melbourne, rental yields are at the lower end of the scale making it a more difficult place to invest. Many investors have shifted their focus north to the likes of Brisbane, which is seeing a surge in population and strong demand for housing.
Over the past 12 months, house prices in many suburbs of Brisbane have seen double-digit growth and there are now many large banks such as ANZ, Westpac and NAB calling for the same rate of growth for the next 12 months as well.
First Home Buyers
Buying a first home in Brisbane is also an appealing proposition for many given that house pieces are still relatively affordable, and there are many employment opportunities available across Brisbane.
Over the past few years, there has been a clear push from young families moving to Brisbane and its surroundings based purely on lifestyle factors and housing affordability. This is very clear when you compare the cost of housing in Sydney to Brisbane.
First home buyers are also able to access a range of benefits from the state Government, including stamp duty waived on a purchase of property valued up to $550,000 for first home buyers as well as a $15,000 first home buyers grant, for a property valued at less than $750,000.
Buying off the Plan in Brisbane
Many people choose to buy off the plan in Brisbane, however, there are a few considerations when buying a property and investing real estate in this fashion.
While off the plan properties can be a great investment, it’s important to look to buy in well-established areas. The inner-middle ring suburbs of Brisbane or along the riverside suburbs are far more preferable than locations more than 25km from the CBD.
Similarly, smaller boutique developments in and around Brisbane offer some of the best opportunities and it’s recommended that investors and home buyers avoid larger high-rise developments in the CBD or new housing estates beyond the city limits.