Brisbane to lead the nation in house price growth as property market finally heats up
‘PATCHY’, ‘flat’, ‘tepid’ — these are just some of the less than flattering buzz words used to describe Brisbane’s housing market in recent years.
How does ‘hot’ sound instead?
While the powerhouse property markets of Sydney and Melbourne have been basking in the glory of unsustainable house price growth, the Queensland capital has been waiting calmly in the shadows for its time to shine.
And that time has come.
Analysts are forecasting big things for Brisbane’s residential property market, thanks to a slowdown in construction coupled with a boost in interstate migration and economic growth.
In its latest report, industry forecaster BIS Oxford Economics predicts Brisbane will experience the highest house price growth of all capital cities over the next three years — jumping 13 per cent, or $70,000, to a median of $620,000.
Source: realestate.com.au
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