Where to for Brisbane home prices?
When the major daily metro paper runs a front page article talking the market up it’s almost a self-fulfilling prophesy! Headlining with “house prices start to roar” the Courier Mail has a million readers on a Saturday so it was no surprise our open homes were a flurry of activity. There’s some real confidence about.
We read elsewhere that one “property expert” predicts a 30% rise in Brisbane real estate prices over the next 3 years. Regular readers of this blog will know we’re a little cynical about property data and believe few forecasters ever get close to the mark. There is definitely a shortage of listings around the inner city though and we aren’t surprised by reports some buyers are offering more than asking price.
The one really encouraging sign for us is the increases in Sydney and Melbourne house prices, reportedly roaring toward double-digit annual growth. Many of you will remember the stream of southern buyers that flowed to the Sunshine State once the gap in our prices became clear in the early 2000’s. If it happens again that extra demand will be fun to have!