Brisbane property sales increased considerably during the first three months of the year, and while this is good for the local market, it could soon mean property prices will be on the rise.
RP Data found that house sales were up 23.6 per cent over the quarter compared to the same time last year, while units experienced a 15.2 per cent growth.
Research analyst at the group Cameron Kusher explained that while these figures are no doubt positive, they might lead to a rise in property prices across the country’s capitals.
One of the situations that might occur is that sales and values will rebound during the second half of this year – something that also happened in 2013.
In light of this, properties in the Brisbane CBD may become even less affordable, giving you an incentive to go in search of Morayfield real estate or other suburbs close by.
Mr Kusher continued: “Values rose by three per cent over the first six months of 2013, followed by a 6.6 per cent capital gain over the second half.
“With interest rates set to remain low, it may provide enough stimuli to see values start climbing more rapidly once more.”