Tuesday, July 28, 2009
The Brisbane Property Market...July Comments.
Well, after months and months of continued searching, I am finally seeing a bit of movement in the Brisbane property market. It's not a huge wave, in fact it's probably more of a ripple, but at least it's there. This will have wide ramifications for the property market, especially the outlying first home owner suburbs. Bargains are still to be had.....500-600K will buy you a nice place near the city, and virtually a castle on the outskirts.
It appears a lot of people are saying Sydney is due to begin the new boom, but I see no reason why Brisbane can't be the city that drives the next boom, or mini boom at least. The indicators are clear, outer suburbs are being bought, inner suburbs are still relatively flat (my feeling based on my research) and this is going to result in an outer ring push which will increase inner ring prices. Usually, as I am led to believe, it's the inner ring that goes first, followed by the ripple outwards, but Mr Rudd's FHB boost has changed the scenery.
Melbourne seems to be on everyone's lips, a lot of chat on SS about it's suburbs. While Melbourne is indeed an attractive market, it is still way over priced compared to Brisbane or Adelaide. All of these markets need to cool first, in the next three months, and then KAPPPOOW, it should all take off again...I think starting with Brisbane.