The majority of Brisbane suburbs recorded strong growth in both houses and units throughout 2014, with some suburbs recording unprecedented annual growth in median prices. Figure 1 provides a snapshot of Brisbane's Key Market Indicators.
|KEY MARKET INDICATORS|
|Change from Last||Year||Half Year|
|Unit sales||No change||Decrease|
|Unit median||No change||No change|
Figure 1. Brisbane Key Market IndicatorsAn evaluation of Brisbane's prices reveals that with a budget of $500,000 to $550,000 a person can afford to purchase property in 26.0%-42.0% suburbs (44-73 out of 173). This figure shows a decrease in Brisbane's affordability, as in 2012 the same budget would allow a person to purchase 34.0%-49.0% of Brisbane (59-85 suburbs out of 173).
Over the past 12 months to December 2014 there has been an increase in second and third homebuyers from interstate; taking advantage of low interest rates, increased equity in their homes, and a slower median price increase in comparison to Sydney and Melbourne. First home buyers are also claiming their stake in the property market, with many purchasing new dwellings approximately 15-20km from the CBD.
2015 Hotspots Snapshot Brisbane
|Fitzgibbon||Kelvin Grove||Runcorn||Indooroopilly||East Brisbane||Woloowin|
|Location Relative to Brisbane CBD||18.2km||3.5km||17.0km||7.3km||4.5km||7.5km|
|Median Price 2014||$428,000||$640,000||$481,000||$431,000||$445,000||$372,000|
|Annual Growth 2014||6.8%||3.1%||16.1%||8.1%||6.6%||4.0%|
Brisbane property proves to be in high demand, evident through several key indicators including (but not limited to): growth in rental price, a recovery in the number of sales and median prices, and declining trend in average days on the market. Further, $9.2Billion worth of residential development projects is due to commence construction in 2015. This will refresh Brisbane's residential supply over the next three years, providing property market players a wide array of choice.
This means that you get the 'real' valuation of your real estate with no hidden agendas.