'Excellent potential for growth' spotted in popular capital

“Brisbane has been on the cusp of substantial price rises for about six years now.”

What could indicate those looming price rises is an influx of infrastructure projects, which are expected to drive employment up, a factor which the report stated is “sorely in need of improvement in Queensland”.

“Some of these major projects will have national and international appeal – the Howard Smith Wharves project and the Queens Wharf complex in particular – which have a flow on for boosting our tourism and services sector,” stated the report.

Also of importance is the capital city’s more affordable property when compared to Sydney and Melbourne and high levels of interstate migration figures.

Where to buy?

The report noted the inner and middle rings, particularly around three kilometres of the CBD, is unlikely to produce any bargains, but provide investors with some long-term investing opportunities.

“This is solid real estate where our population likes to live and play. For example, this would include Enoggera out to Stafford in the north and Annerley through to Moorooka in the south,” the report stated.

For Brisbane property, the report also mentioned to look for growth creation factors, such as renovatable properties on sizeable blocks of land, larger allotments with solid long-term redevelopment potential and subdivisible land.

Where not to buy?

Investors looking for where not to invest should be careful in the northern and western corridors pictured more so towards property investors, the report warned.

“If there’s a predominance of dual occupancy and duplex structures or generic townhouse designs on offer, tread warily if your goal is capital gains,” the report stated.

“Credit restrictions have not helped the demand side of the equation in this sector either and with plenty of supply on hand, the result seems to be subdued growth if any for this real estate.”

Despite the oversupply of apartments, those aimed at homeowners have performed well, according to the report, and further supply  has been predicted to slow down.

“We aren’t recommending anyone rush back into this type of investor accommodation, but the future is looking less dire than it did a couple of years back,” the report noted.

“2019 will be a year to watch in Brisbane. If we can accentuate the positive and eliminate the negatives, then property owners should do fine by annum’s end.”

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