Herron Todd White have released their ‘Month In Review’ report for September this week, with some interesting insights into the Brisbane Property Market.
“This tide of new residents heading coastward is turning somewhat as more choose to stay in Brisbane and enjoy its growing cosmopolitan lifestyle attractions,” the report says.
Significant property price rises in Brisbane have often been attributed to high Net Interstate Migration rates – the trend for many Australians form make the move North from the more expensive regions surrounding Sydney & Melbourne, without sacrificing the big-city amenities and business opportunities. Net Interstate Migration rates in Queensland are the highest they have been since before the GFC.
A reflection of continuing higher interstate net migration rates, there “has been a more broad-based appeal for Brisbane housing. Many of those Sydney and Melbourne residents who just can’t stand the costs associated with living in these population hot spots are joining us in the north,” the report adds.
For many homeowners and investors who have who have been patiently waiting for significant price gains as were seen in the Sydney & Melbourne markets from 2016-2018, the signs are positive that Brisbane property prices will continue to benefit from this uptick in population growth and improving local business conditions.
Local Herron Todd White analysts are taking “a quietly confident outlook for our city, with steady growth that will provide excellent long-term results for property owners, we also expect our Net Interstate Migration numbers to continue rising. Couple that with more work opportunities and an overall strengthening state economy, and it’d be fair to say that those who purchase in 2019 will look back in ten years and thank their stars they acted.”
Contributor: Alex Jacques – Director, Jacques Financial Group (with thanks to Herron Todd White Australia)