Brisbane is well-placed to be the strongest capital city property market in 2014 after trailing growth in Sydney and Melbourne last year, analysts claim.
Raine & Horne Queensland general manager Steve Worrad said activity in Brisbane is already up 25% in some areas compared with the same time last year.
“It's on the basis of tight supply and growing demand that we expect property values in Brisbane to grow by 7%, and more in some cases, during 2014.”
Demand for Brisbane property is being driven by investors, and empty-nesters shifting from interstate, Worrad said.
“Property prices in the southern capitals enjoyed a robust 2013, with the median house price in Sydney, for example, between $665,000 and $712,000 depending on who you listen to, while the median house price in Brisbane is an affordable $445,000.
“This gives Sydney retirees, especially, scope to sell a family home tax-free, and make a lifestyle shift to Brisbane and add the difference to their retirement savings.”
The price differential between Brisbane and the southern capitals is also set to prove an attraction to fly-in fly-out workers.
“Whether they're working the mines in Western Australia or on an investment banking desk in Sydney, Brisbane's lifestyle and affordable property prices will attract more fly-in fly-out workers in 2014,” said Worrad.
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out