Property Investors Report 2020: Market Predictions
Based on recent articles coming out from market predictors such as Realestate.com and the Property Observer, Brisbane’s property market is looking to outperform our Sydney and Melbourne neighbours in 2020.
According to SQM predicts, property prices are set to rise between four to seven per cent next year if interest rates are cut to 0.5 per cent.
“Brisbane is definitely offering better value for money for those who decide to move from Sydney to Melbourne,” stated SQM Research managing director Louis Christopher.
In addition, Mr Christopher told Realestate.com that he also anticipated a recovery in Brisbane’s rental market in 2020 with an increase of rents to be between three and five per cent.
“Brisbane is increasingly facing a shortage of rental accommodation after years of being in surplus,” he said.
The good property news comes as a result of Brisbane’s affordability balanced with its population influx.
Westpac has advised, “a likely lift in new listings will test the depth of demand in the first half of 2020. The supply of newly built dwellings will also remain elevated. Completions eased back from a record 218k in 2018 to an estimated 205k in 2019”.
Similarly, Domain’s Property Price Forecast predicts, unit prices to grow by about 3 per cent by the end of 2019, and increase by another 3 per cent in 2020.
As a result, the market is seeing more first-time buyers being able to enter the market again.
Feel free to contact Hatzis Lawyers for further information on conveyancing matters.