Looking at real estate in Brisbane? Your timing is impeccable!
The Brisbane real estate market doesn’t always get as much attention as its southern counterparts of Sydney and Melbourne. But savvy property investors know this could be a major mistake.
Average real estate prices August 2022 (CoreLogic)
Let’s take a broad brush to real estate in Brisbane, why it’s worth a look, what’s happening with Brisbane real estate rent, Brisbane real estate north, Brisbane west real estate, real estate south Brisbane and east Brisbane real estate.
Why you should take a serious look at real estate in Brisbane?
There are many reasons to take a close look at real estate in Brisbane, but these are a few of our favourites:
- Brisbane is still more affordable than Sydney and Melbourne
Sure, prices have been on the rise – but they’re still not at the same stratospheric levels as southern capitals. The most recent data from the Domain Group shows that the median house price in Brisbane is currently $762,284. In Melbourne, it’s $782,053, and in Sydney, a whopping $1,066,493.
- The Queensland capital is enjoying strong population growth
Brisbane’s population is expected to swell to 5 million by 2031. This population growth is being driven by interstate and overseas migration, as well as a high birth rate. This is good news for real estate investors, as more people means more renters – and more potential tenants competing for your property.
- Brisbane’s economy is diversified – and growing
Brisbane isn’t just a one-trick pony when it comes to its economy. Sure, tourism is important – but the city is also home to a thriving education sector, as well as a growing number of start-ups and tech companies. This diversification means that Brisbane’s economy is more resilient to shocks, and is more likely to continue growing in the long term.
- Infrastructure spending is on the rise
The Queensland government has been investing heavily in Brisbane’s infrastructure in recent years, and there are more projects in the pipeline. This includes everything from a new international terminal at Brisbane Airport, to a new rail line to the Sunshine Coast. This infrastructure spend is good news for real estate investors, as it makes properties more accessible and attractive to potential tenants.
What’s happening in the Brisbane real estate rent market
The Brisbane real estate market has been on the rise in recent years, and this is reflected in rents. The most recent research data shows that the median rent for a house in Brisbane is currently $520 per week. This represents an increase of 6.9% over the last 12 months.
For unit rentals, the picture is similar. The median unit rent in Brisbane is currently $450 per week.
What’s happening with real estate in Brisbane north?
The northern suburbs of Brisbane have been popular with buyers and renters alike in recent years, thanks to their affordability and proximity
North Brisbane has seen particularly strong growth in recent years, with house prices rising to over $1,200,000. Suburbs including Ascot, Hamilton, Stafford Heights, Carseldine and even Wavell Heights account for the majority of these higher prices.
We have listings in more affordable northern suburbs.
What’s happening with Brisbane west real estate?
The western suburbs of Brisbane have seen strong growth in recent years, thanks to a combination of affordability and an influx of new residents from other parts of the city.
The median house price in the west is currently $612,500, which represents an increase of 5.9% over the last 12 months.
What’s happening with real estate in south Brisbane?
The southern suburbs of Brisbane have been popular with buyers and renters alike in recent years, thanks to their affordability and proximity to the city centre.
The median house price in the south is currently $515,000, which represents an increase of 2.9% over the last 12 months.
What’s happening with east Brisbane real estate?
The eastern suburbs of Brisbane have seen strong growth in recent years, thanks to a combination of affordability and an influx of new residents from other parts of the city.
The median house price in the east is currently $735,000, which represents an increase of 4.5% over the last 12 months.
What’s happening with real estate in Brisbane CBD?
The Brisbane CBD has seen strong growth in recent years, thanks to a combination of affordability and an influx of new residents from other parts of the city.
The median house price in the CBD is currently $650,000, which represents an increase of 3.8% over the last 12 months.
As you can see there has been good growth in Brisbane over the past 12 months. But what’s happening right now in 2022.
According to the latest data from CoreLogic, the median house price in Brisbane is currently $660,000. This represents an increase of 2.3% over the last 12 months.
For units, the picture is similar. The median unit price in Brisbane is currently $475,000, which represents an increase of 1.7% over the last 12 months.
Currently there is a lot of construction going on in the central business district which is set to continue for the next few years. This is good news for real estate investors as it means there will be an increasing demand for rental properties in the CBD.
What does this mean for you?
If you’re thinking of investing in Brisbane real estate, now is a good time to do it. Rents are on the rise, and there is strong growth predicted for the next few years.
Is the market slowing in Brisbane?
There is no simple answer here that satisfies all of Brisbane. Property listings and enquiries are down slightly. However, transactions are still occurring according to Hutton and Hutton CEO, Peter Hutton.
“We are seeing good sales volumes occurring in Brisbane where properties are well priced, well marketed and home sellers are in tune with today’s market.”
If you’re looking for a property in Brisbane, be sure to check out our listings. We have a wide range of properties available, from units to houses.
Conclusion
The Brisbane real estate market is slowing down, but there are still opportunities to invest.
Property prices have remained relatively stable in the inner-city suburbs of Brisbane over the past year, and there has been an increase in demand for family homes.
The Brisbane real estate rent market is strong with vacancy levels virtually at zero, which is good news for investors.
If you’re thinking of investing in real estate in Brisbane, now may be a good time to do so. Our team at Hutton and Hutton can help you find the perfect property to suit your needs and budget – check out our latest listings on our website today!
