Dark horse capital city tipped to out-perform Sydney, Melbourne

“We’ve already seen several investors buying up in Brisbane while prices are low, especially given that prices interstate are still out of reach for many,” Mr Piper said.

“Interest rates are still very low and this year we will see a real steadying in the market following the 2017 unit peak.”

Apartment supply is expected to be at 5,700 completions as opposed to last year’s 10,700 completions, BIS Oxford Economics data shows, while ABS data reveals over 11,000 people migrated to Brisbane, which both sets of data expected to contribute towards a market recovery.

Because of this, Mr Piper said now is the time to make purchases in Brisbane, with a “significant shift in growth” expected by the end of March.

“As the market steadies itself, more interest increases from investors and demand increases from new occupants; it is creating the perfect burst of energy for the market,” he said.

“Brisbane is still one of the most affordable cities in Australia. The current price-to-income ratio to buy in Brisbane is 5.3 times at a median house price of $524,000.

“Compare this to Sydney at 10.8 times income at $1.2 million, and Melbourne at 8.4 times income with a median house price of $829,000 and you can see why Brisbane is so attractive.”

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