At the time of writing, June 1, 2022, the mainstream news media is talking about a falling real estate market. But what most people don’t realise, is that there is not one real estate market in Australia, but many.
It is true that the market in Sydney has already started to fall. Some suburbs have reputedly dropped in median value by around 200K. But remember, Sydney prices have grown very high. In the past few years, the median prices have risen by way more than 200K.
The market in Melbourne is also showing signs of weakness. But the same is not true in all capital cities in Australia.
The data shows that prices are still rising in Brisbane and the Gold Coast (as well as Adelaide). These markets still have some catching up to do, and they start to move later than Sydney and Melbourne. They also tend to keep moving up longer than Sydney and Melbourne.
Greater Brisbane is a market showing plenty of promise for investors still. Some experts believe it may have 18-24 months of price increases still in it. This is based on the normal property cycles that the different Australian markets normally go through. Of course, in this world, no one can say absolutely for sure what will happen in any market.
Brisbane is likely to benefit from the up and coming Olympic Games in a few years. There is plenty of net migration here at the present time, and vacancy rates in the rental market are at an all time low. Meaning that landlords can be sure of getting plenty of applicants for any property they try to rent out. Rents are likely to rise, and this will underpin the market here further.
The conclusion is this: it is likely that Brisbane prices will remain steady or even increase in the months to come, until some time in 2023.
If you are buying and selling in the same market, it doesn’t matter too much for you.
We are here to help you do the best you can if you are moving up, down, or resizing.
