Investing in Real Estate in Australia
While Sydney and Melbourne property prices have been rising strongly for the past few years, they are still at the top of investors’ budgets, so many southerners are looking to invest in Brisbane real estate. An article on Domain reveals that many investors are buying properties in Brisbane based solely on photographs, skipping inspections and settling for the wrong property in the wrong location. Here are some tips for investing in Brisbane property.
In Brisbane, there are two main trends driving the property market: affordability and demographics. Traditionally, the price of freestanding houses in good school catchment areas has risen strongly, but prices in established money suburbs have been flat or slightly lower. This makes now a great time to invest in Brisbane real estate. And in terms of rents, you’ll find that prices are still relatively affordable compared to the cost of renting or buying a larger property.
In the past 12 months, Queensland’s property market has improved. In the year to July 2021, unit sales in Brisbane increased 47.5%, whereas the price in the bottom quarter of the market rose by only 3.8 per cent. Buyers are making compromises and the market is becoming more competitive. However, you don’t have to live in Brisbane to invest in property there. Listed property prices in Brisbane have been increasing by more than 30 per cent since the beginning of the year.
While the price of real estate in Brisbane is largely dependent on the size of the lot or house, education is another key factor that affects its value. Suburbs close to schools have increased by 40% over the last decade, and those near train stations have appreciated by 30% in the past five years alone. Therefore, if you are looking to invest in Brisbane property, the best option is to buy a home in the inner or middle ring.
Lot size is another important factor when purchasing a house in Brisbane. The average size of a Brisbane home has increased over time, and there is a strong seasonal trend. In other words, it is possible for a buyer to pay more than the asking price, as last month, 60 percent of homes in Brisbane sold above their asking price. If you are thinking of buying a condo in Brisbane, it’s advisable to consider the size and price of your lot.
The median price for a house in Brisbane was $539,729, up 0.7 per cent from the previous month. However, vacancy rates in Brisbane are at record lows, as prices are rising more than three times faster than in the rest of the country. A property with a smaller lot is likely to cost more. However, a property in a higher-cost suburb will likely have a higher price than an apartment in a lower-priced suburb.
Despite the high levels of speculation in Brisbane property, the market remains affordable for many buyers. The past five years have seen relatively modest price growth, although a more stable investor environment is expected to drive further price growth in the near future. A strong correlation between affordability and price continues to help Brisbane real estate investors take advantage of this opportunity. And even though some suburbs may be underperforming in the market, they have strong demand, and the price of houses has fallen significantly in some cases.
The commissions charged by a Brisbane real estate agent will vary depending on the property’s size, location, and condition. The commission may also depend on the type of real estate and its market value. Make sure to compare the fees and commissions of several real estate agents in Brisbane before choosing one to represent you. These agents have local knowledge and connections that can help you sell your property more efficiently. If you choose to sell your property yourself, you’ll save a lot of money, but be prepared to work through any problems that arise.
When it comes to negotiation and marketing, Alene Brisbane is known for her expertise. She believes that details matter and that every dollar counts, so she spends time ensuring that each property sparkles. In addition to her extensive marketing skills, she handpicks only the best vendors and always participates in photo shoots to highlight each property’s best features. If you’re looking for an exceptional Brisbane real estate agent, this might be the right choice for you.
The housing market in Brisbane continues to outperform the unit sector. The median house value in Brisbane grew by 2.0% in August, which was consistent with the growth in July. This makes the average value of a house in Greater Brisbane $612,372 – $13,672 higher than one month ago. As a result, a home in Brisbane may not be as affordable as a unit. So, consider purchasing a unit instead of a house.
