Where did that year go! Seriously. 2015! It has been a real pleasure to meet so many new people, wonderful new clients and see some amazing Brisbane properties throughout the year. Our business and brand has grown, and our focus on what we stand for and our service continues to be enthusiastically embraced. So”Thank you” to you for joining us for another year of great property and amazing property improvements!
2015 In Review
The Brisbane economy has continued its path of steady and sustained growth and in most parts has provided a greater representation of property value than that of our southern cities and in particular Sydney. Brisbane’s median house and unit prices peaked at $615,000 and $430,000 respectively from September 2015 with annual capital growth forecasted to end the year around 6%. Brisbane’s vacancy rate has hovered around 3%, with rental yields around 5%. Overall it has remained a fairly steady year. The RBA Cash Rate has been a contributor to the flow of investor buyers to Brisbane as has the Sydney property market and the influx of property development in Brisbane, mainly in the inner city and CBD areas. Whether demand will meet supply is unknown, but we will wait and see what impact the supply of city apartments will place on the Brisbane market during 2016-2017.
By all reasonable accounts 2016 is looking to be much the same. Brisbane’s economy and population continues to strengthen, and we remain observant on the property development supply and the local and global economies. We continue to remain as advocates for property that resides near employment, transport and lifestyle hubs and specifically in the middle ring area of Brisbane suburbs. Our rationale for the middle ring is for several factors; Queensland is known for its lifestyle and enjoyment of the outdoors so quality property that is reflective of these attributes should prove to be a great asset over time and a worthy consideration, the middle ring region can also provide a lower price point BUT a stronger price to land/property size ratio than the inner city region. From an Australian economy perspective, the lower Australian cash rate and low Australian $A dollar may provide another opportunity for investors and primary residence buyers to secure their next property without excessive pressure and competitiveness!
Capital growth forecasts have also been predicted for 2016 to weaken following the explosion of double digit growth in Sydney during 2015. 2016 forecasts, and dependant on the RBA Cash Rate decisions throughout the year, for Brisbane are between 4% – 7% annual capital growth.
2016 is shaping be another good year for buyers to purchase, make property improvements and hold whilst the market continues to swing into higher growth beyond 2017.
Time for Summer and our Summer Property Reading
Whilst you are enjoying some rest and recovery over the Summer, our Summer Property Reading will provide you with great property insights and information and will have you ready to jump into the market in the new year including our Property Readiness Survey – launching in January 2016!
Launching January 2016 – Agility Property, Property Readiness Survey!
Our Property Readiness Survey is designed to help you be ready to purchase property in 2016. Take the survey to discover your property readiness or share it with friends and family and be ready in the new year to beat the competition! Launching on our website January 2016.