Brisbane, the quiet achiever. There is not much mention about Brisbane property market in the news. We struggle to understand why investors and media are overlooking this beautiful city. Brisbane has grown its job market by an average 3.39% over the period. The state continues its recovery from the mining boom and we are positive on the property market in Brisbane. We think above average job creation, along with significant pipeline of project and great affordability is likely to see Brisbane have its day in the sun.
We are seeing Brisbane property market to remain stable over the next twelve months. Unlike its southern cousins we don’t believe Brisbane will see significant price fluctuations either way. While Brisbane property continued to grow slowly and didn’t see the boom of Sydney and Melbourne, we are unlikely to see similar growth to the other two cities. The same credit restrictions that are affecting Sydney and Melbourne are likely to affect Brisbane property market. While affordability in Brisbane is better than competing Capitals, job market remains fairly weak in comparison.
We are keeping an eye on the strong state and council investment in the pipeline. As far as house prices are concerned, we believe we should be watching this space for Brisbane. Smith Wharves project and the Queens Wharf complex are likely to transform not just the waterfront dining experience, but bring sustained economic benefits and liveability to Brisbane.