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THE Brisbane property market may have suffered funding and development setbacks in recent years, but opportunities abound for those who can afford the investment. With one in five Brisbane Business News readers looking to invest in the next 12 months, we speak with the experts about the cycle of recovery and the magical words ‘population growth’.
Herron Todd White director David Hyne says Brisbane’s residential property market can be divided into two distinct areas that are both going in very different directions.
“Near city areas within a 5km radius will be the most stable, but to the other extreme you have the mortgage belt areas within a 17 to 25km radius, where there is a weakening after the first home buyers grant in 2009, and my advice is to tread with caution,” he says.
“In some areas you might see a blow out in vacancy rates – I shouldn’t exaggerate, but there could be increases in vacancy rates. There are some submarkets, especially west of Ipswich, where there’s an oversupply of property, but generally the supply and demand equation is quite stable."
It has been hailed as a return to normality, or the ‘new normal’ and it’s creating vast investment opportunities in Queensland’s softened property market. Commentators are honing in following a price rationalisation not seen for more than two decades. While mining rich regions are proving hot spots for the savvy prospector, there’s plenty of product coming on to the market in Brisbane too.
Read the full exclusive article in Brisbane Business News October issue, out now in more than 500 Greater Brisbane newsagents.
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