Brisbane Still Growing
The Brisbane property market has continued to see growth as both Sydney and Melbourne continue to fall, according to property analysis firm CoreLogic's most recent report. We wanted to know what this means, so today we're taking a closer look.
What's Going On?
Overall, Australia's seen house prices drop by 1.6% over the past year, with Darwin and Sydney seeing the worst falls. However, Brisbane has seen a modest 1.2% growth in this time, a marked contrast to some other major cities.
Why's This Happening?
The government's recently introduced stronger regulations around bank loans following the recent Royal Inquiry. Sydney and Melbourne properties also tend to be significantly more expensive, with the median Sydney house costing almost double a Brisbane home. This makes these markets less attractive, both to local and overseas buyers, which can lead to less demand.
What Does This Mean?
While the overall national trend is towards falling property prices, Brisbane continues to offer good returns for property owners. If you're looking to sell, now could be a good time for you to enter the market once more, and capitalise on the current market conditions.
Of course, each property is different, and regardless of market conditions, a good agent can always get you the best result. If you want to see just what's possible for you, get in touch with us today.