Even though growth is slowing in other parts of Australia, Brisbane’s housing markets are likely to continue to perform strongly in 2022. CoreLogic reports that Brisbane’s dwelling values are up 10.6% over the last year, some properties have far outperformed others and freestanding Brisbane houses within 5-7 km of the CBD or in good school catchment zones have grown in value strongly.
In the CoreLogic Quarterly Rental Review, numbers revealed that all Australian capital cities saw an increase in rental values over the latest quarter and year-on year, as did the individual house and unit markets. Population growth in Queensland has increased demand for Brisbane homes, not just for owner occupiers but for tenants as well, thanks to the affordability of property in Queensland compared to Sydney and Melbourne.
The strong demand for homes is also due in part to the increased flexibility of being able to work from home, with buyers and renters alike, needing more space. With a 0.7% vacancy rate across Brisbane and the demand for rental properties only increasing, Brisbane is worth investing in. Looking forward into the long term future, the 2032 Olympic Games are only set to strengthen the property market and provide a secure and safe investment option.
