Supported by the largest infrastructure spending since the 2011 flood recovery, economic growth and employment opportunities have been on the rise. Properties in Brisbane are more affordable with relatively higher rental yields, a major attraction to investors. Property experts predict that Brisbane will soon be at the top of property growth charts.<\/span><\/p>\n \u201cQueensland\u2019s economy is proving itself to be a good performer, against a backdrop of national gloom, with new jobs bringing population growth and demand for housing,\u201d <\/span>says Antonia Mercoerlla<\/span><\/a>, CEO of Real Estate Institute, Queensland (REIQ).<\/span><\/p>\n Wendy Russel, Brisbane\u2019s buyer’s agent says many investors have already realised Brisbane\u2019s investment potential and have been quick to act.<\/span><\/p>\n \u201cBrisbane has strong employment prospects due to growing population and infrastructure\u201d, she said.<\/span><\/p>\n \u201cWith big-ticket developments already underway such as Queen\u2019s Wharf, Howard Smith Wharves, the Cross River Rail and the airport’s second runway, Brisbane is notably \u2018growing up\u2019 and being recognised as a stand out capital city in its own right, rather than a second cousin of Sydney and Melbourne, with which it has long been associated.\u201d<\/span><\/p>\n \u201cAs these developments complete, there will be a jump in average house prices\u201d, she notes.<\/span><\/p>\n \u201cTo get into the market while prices are affordable and interest rates are still low would be a smart move,\u201d she says.<\/span><\/p>\n Russel says, there is a strong feeling that Brisbane has not reached the pinnacle. Investors feel that the Brisbane market is still very affordable, as compared to Melbourne and Sydney.<\/span><\/p>\n According to the Property Investment Professionals of Australia (PIPA) survey, 44% of participants believe that Brisbane is the capital city with the best prospects. More experts are putting their trust in Brisbane, over Melbourne and Sydney.<\/span><\/p>\n Peter Koulizos, Chairman of PIPA favours Brisbane as the city to invest in. \u201cIf you\u2019re looking at a time frame of five to seven years, Sydney is not the place to go, because it\u2019s already had its big rise, and Melbourne is the same,\u201d he says.<\/span><\/p>\n \u201cHobart has got another one year to 18 months of steam left in the tank and it will flatten out and Perth is really not going to do too well until the price of iron ore goes up. From a property cycle point of view, which has a big impact on prices, it\u2019s time for Brisbane and Adelaide to shine.\u201d<\/span><\/p>\n \u201cI\u2019ve been saying that for years and nothing has happened, but sooner or later \u2013 and more sooner than later \u2013 you will see Brisbane and Adelaide at the top of the capital growth tables.\u201d<\/span><\/p>\n Koulizos says, that the biggest growth driver of the <\/span>Brisbane market<\/span><\/a> is interstate migration. People moving from NSW to Queensland, which happens at the end of a Sydney property boom.<\/span><\/p>\n Downsizers and families from other cities of Australia, especially Southern, are moving to a sunny lifestyle in <\/span>South East Queensland<\/span><\/a>. Queensland has become Australia\u2019s number one destination for internal migration.<\/span><\/p>\n CoreLogic data shows how Brisbane has stood the test of the changing property markets with an increase of 0.9% in dwelling prices compared to falls in Sydney and Melbourne.<\/span><\/p>\n Recent data from Real Estate Institute of Queensland shows how prices grew by 2.5% over the past year to reach a new record median of $673,000.<\/span><\/p>\n Investors in Australia have been less active recently due to several factors including, uncertainty around prices and interest rates, and tighter lending restrictions.<\/span><\/p>\n Chris Fleming, Head of Stores and Optimisation at Suncorp says investors are continuing to invest in Queensland, along the growth corridor between the capital and the Gold Coast, and not just Brisbane.<\/span><\/p>\n \u201cAs property prices continue to fluctuate in Sydney and Melbourne, more interstate investors could see Brisbane as a more attractive investment opportunity,\u201d he says.<\/span><\/p>\n Fleming says that due to the steady growth in prices with less falls, lenders are seeing Brisbane as a more stable investment than the other capital cities.<\/span><\/p>\n Rental yields in Brisbane are around 4.5%, compared to nearly 3% in Sydney and Melbourne. Higher rental yields in Brisbane, make it a better prospect for lenders.<\/span><\/p>\n A recent survey from Suncorp found 60% people nationally have no plans to buy, sell or renovate their home.<\/span><\/p>\n Caution is not necessarily a bad thing, he adds. Risk reduction strategies such as landlord insurance will be key for those getting into the market.<\/span><\/p>\n Apart from investors, first time home buyers are also quite active, says Fleming.<\/span><\/p>\n According to the Suncorp Home Index survey, 11% of respondents are looking to buy or are in the process to buy their first home and 71% working towards buying by saving the deposit.<\/span><\/p>\n Latest data from the ABS point that the level of first-time homebuyers is the highest since 2010. \u201cThere\u2019s renewed optimism in having the ability to buy your first home,\u201d Fleming says.<\/span><\/p>\n We feel it is safe to say that it is the right time to enter the Brisbane property market. The challenge is picking the exact location and finding the right property that you can be confident about.<\/span><\/p>\n In these uncertain times, having the right investment property strategy becomes even more important. We can help you make the right move confidently, talk to us.<\/span><\/p>\n \u201cMomentum and speed is extremely important to profitable investors (people who are focused on achieving and living their goals and dreams). \u00a0Brisbane has taken over Sydney & Melbourne\u2019s momentum and is demanding more attention from successful investors. It ticks a lot of boxes…the start of a growth cycle, lower prices, positive cashflow and more!\u201d – Rene Marzinger<\/a>, Mirren Investment Properties<\/a>.<\/span><\/p>\n References<\/span><\/p>\n Courier mail<\/a>, REIQ<\/a><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" After a long time in the queue to become the next capital to boom, it could finally be the time for Brisbane to shine. Supported by the largest infrastructure spending since the 2011 flood recovery, economic growth and employment opportunities have been on the rise. Properties in Brisbane are more affordable with relatively higher … <\/p>\n![\"Brisbane,](\"https:\/\/www.mirren.com.au\/wp-content\/uploads\/2019\/02\/Brisbane-image-2.jpg\")
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