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It’s boom-time baby!

Did you catch the big property news story earlier this week? The one with the headline splashed across the front page of the paper, ‘Brisbane will boom’.

An extra 1.5 million people are tipped to move to the river city over the next 20 years, according to a report by RSM Australia for Brisbane City Council.

The same report states that overall the city is projected to build an economy worth $239 billion by 2041. 

Around 1600 people relocate to South East Queensland each week, prestige stock levels across Brisbane are currently low and buyers are feeling the pressure to snap up property before this year is out.

It’s the perfect storm for sellers; a sweet spot for anyone even remotely thinking of taking a property to market. 

Ray White chief economist Nerida Conisbee said house prices have been rising across Australia since the start of the year and a key driver of this has been a shortage of properties for sale. 

This is flagged with a caveat relevant to Brisbane’s prestige market when stock levels do eventually increase. 

“Housing markets are far too complex to be driven by just one factor and the outlook is not driven simply by a change in the number of properties available,” she said. 

Considering selling? Myself, my team and Ray White The Collective are available to assist you with information regarding your local market, buyer demands, and how to achieve the greatest price for your property.

I hope you enjoy the read.

Matt Lancashire