Oct
31

Brisbane saw steady growth over the past decade, a trend expected to continue as the state capital shows strong value for money

The Courier Mail

FINANCE group Suncorp expects the Brisbane property market to continue to attract “healthy buyer interest” as prices and rental returns compare extremely well to Sydney and Melbourne.

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Suncorp economist Darryl Conroy said Brisbane recorded sound growth of 4.6 per cent per annum over the past decade.

The comments come as new Hotspotting research out this week predicted 29 Brisbane suburbs were set to see prices rises, a third of which were in the Moreton Bay area including Redcliffe. The report had also listed inner city apartments as being danger markets because of oversupply concerns.

Mr Conroy said there were “many moving parts to inner city living for both short and long-term timeframes”.

“Brisbane’s landscape is changing and thereby attracting much commentary and opinion, but cities change as they mature and become more densely populated. Additionally, the fast paced nature of technological change, means changes to the way, and where we work.

“Supply is one side of the equation and admittedly it is growing at an unprecedented rate, but there are other factors to consider.”

He said the volume of units and apartments coming on line meant buyers had the luxury of choice.

But, he said, the onus rested with buyers to do their research to ensure the property met their needs.

“Price is a critical element for any buyer, but so too is position and the quality of the construction.”

Mr Conroy said buyers should consider property “as a long-term proposition whereby lifestyle considerations and access to amenities such as schools, transport and shopping districts are taken into account”.

Other important factors included whether individual properties met their requirements by way of size, access, living space and car parking, he said.

Bruce Robson of Coronis named growth suburb Redcliffe as “the most affordable waterfront suburb in Brisbane with huge potential for the future”.

Rhonda Subloo has put her home at 2 Walsh Street, Redcliffe for sale for $695,000, as she downsizes.

“Prices will go up,” she said.

Her plan was to stay in the area.

“We’re looking around in Redcliffe for a retirement village type setting.”

Rhonda Subloo, whose four-bedroom home at Redcliffe, is on the market for over $695,000. Pic Mark Cranitch.The Brisbane market saw steady growth over the past decade, a trend which is expected to continue given the Queensland capital’s value for money and rental returns.

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