WILL BRISBANE BOOM IN 2021?
Brisbane’s property values remained resilient over the last year, especially given the economic impact of COVID-19, and are now forecast to perform strongly in 2021.
The Sunshine State is shining and strong demand for detached houses and outstanding demand for lifestyle areas are projected to deliver 6–10% capital growth in 2021 for the south-east Queensland property market.
At the end of 2020 Corelogic reported a +4.14% change in its Brisbane Home value index over the last year, with houses +4.66% and units +2.33% (year on year.)
During recent months houses in Brisbane have enjoyed improved demand and the number of transactions in the Brisbane housing market are higher than they were pre-Coronavirus.
Westpac Bank also recently updated its property forecasts, with Brisbane prices tipped to surge 20 percent between 2022 and 2023, meaning Brisbane is likely to be the one of the best performing property market over the next few years.
Of course, while some locations in Brisbane have strong growth potential, and the right properties in these locations will make great long term investments, certain submarkets should be avoided like the plague.
To help you make an informed decision, I’m going to examine what’s going on in the Sunshine State in detail in this article.
But be warned…it’s a little longer than normal, so if you’re looking for a particular element of the Brisbane property market, use these links to skip down the page.