Brisbane Real Estate

Brisbane real estate general overview

Brisbane Real Estate Brisbane is a city on a river, by the sea, with a mountain backdrop to the northwest and coastal farmland to the south, so no matter what your taste is in real estate, you'll be able to find what you're looking for. As capital of the fastest growing and most liveable state in the country, Brisbane has the demand investors need to see excellent returns, and a climate which keeps smiles on residents faces all year round.

The City of Brisbane has approximately:

371,600 rateable properties
338,349 residential properties
76,192 apartments and 5,729 flats
26,731 commercial properties

Brisbane House Prices

A very competitive building sector and relatively low home and land prices mean that Brisbane real estate is much more affordable than Sydney and Melbourne, but just like the rest of Australia, the recent housing boom has sent Brisbane prices soaring, although the market has now settled right down (in fact, prices actuially fell 3 % in the March 2005 quarter and rose by only 1.5% in the June 2005 Quarter). In June 2002 there were more than 30 Brisbane suburbs with an average price house price of under $200,000 - in June 2003 there were only six and now there are virtually none. The median house price in Brisbane is now around $330,000 - compare this figure to Sydney ($696,000) and Queensland is still cheap. Owners should expect modest capital gains over the next 12 months and buyers can take respite in a market that is now simmering, as opposed to boiling.

Example Brisbane real estate prices

Older two bedroom inner city apartment: $235,000
New two bedroom CBD apartment: $295,000
Cheap new house and land package in outer suburbs: $255,000
Nice inner city three bedroom house: $360,000
Stylish inner city three bedroom house: $430,000
Dream house, 10 minutes drive from CBD: $900,000-$2,000,000 (depends on your dream of course)
Riverfront mansion, 10 mins from CBD: $2,000,000+

Brisbane Rental Returns

Rental returns on Brisbane real estate have remained reasonably stable throughout the property boom, and vacancy rates are now actually tightening, despite the number of new CBD apartment buildings at, or near completion. REIQ figures show that the rental market is actually under-supplied by around 3%. Queenslands robust economy (underwritten by a plethora of natural resources and strong housing demand) should prevent property prices from falling as they have in the southern states.

Market Outlook

Brisbane Property The best performing suburbs in Brisbane are at either ends of the spectrum; upmarket suburbs like Balmoral, Hamilton, Chelmer, Bulimba, Bridgeman Downs, and St Lucia have all grown steadily in the last 12 months and cheaper suburbs, such as Carole Park, Durack, Forest Lake, Runcorn and Taigum also continue to do well.

The appeal, charm and relative cheapness of other inner city suburbs also ensures a strong demand in future and with strong rental demand in the inner city, apartments are also looking like good investments. Rising oil prices should mean stable, or possibly even falling, interest rates in the short term and that is also good news for the housing market in Brisbane.

Inner City Developments

The housing boom of the early 2000s saw a flurry of development activity in the Brisbane CBD. Dozens of apartment buildings were built, and many continue to be built on the back of the boom. The following apartment buildings are at, or near recent completion stage in the CBD.

What the analysts are currently saying about Brisbane real estate

ANZ's Property Outlook report: "The lure of the sun and surf of Queensland is once again drawing inhabitants from the southern states. House prices have risen by 22 percent in the year to March and maintain considerable momentum. Scope for further gains remains, with our affordability measures suggesting that six percent over the next two years could be easily sustained."

Access Economics Business Outlook report: "Overall Queensland's prospects remain good ... Queenslands pulse remains very healthy. Job growth is abundant, output growth is strong, retailers are ringing up robust sales and consumers more generally are happily spending their hearts out. Queenslands housing sector is in a relatively good position. Measured housing investment is surging (and is at its highest share of the national total since detailed results began in the mid 1980s). Importantly, forward indicators such as housing finance have fallen less than elsewhere since recent peaks. Even better, is the underlying demographic swing back towards Queensland, with the net annual population inflow nearly doubling in 2002 after an extended period of weakness stretching back to mid 1996."

Macquarie Bank: "Over the next few years, we expect southeast Queensland to benefit from the strongest interstate and overseas migration inflows since 1989. While the southeast Queensland market is likely to take a breather as interest rates rise, once home buyers and investors realise the rises will be relatively moderate, further growth can be expected."

More information about Brisbane real estate

Visit the real estate section of the 'Our Brisbane.com' website - a government-funded portal for the city
The Real Estate Institute of Queensland (REIQ) website has extensive property research
The The Midwood Report is considered the Queensland property bible

Important Disclaimer
While every attempt has been made to ensure the information on this page is as accurate as possible, it is intended as a guide only and should not be considered as a substitute for professional advice. No warranties are made about the accuracy of information and the publishers, e-CBD, accept no liability for any loss resulting from the use of this information.

Brisbane Real Estate