Now is the time to buy
Hot topic of conversation among many prospective new home buyers are the recent financial and economic changes. But with so many…
Let's be honest - Brisbane truly is the place to be. Whether you're enjoying our wonderful weather, the vibrant city appeal, relaxed way of life or embracing getting out and about in the great outdoors, Brisbane offers a fantastic lifestyle.
And, with one simple announcement made of late, Brisbane really is the place to invest in property too. Whether it's your first home, your forever home, or even an investment property or two, Brisbane is set to see the biggest house price rise nationally by 2022.
According to BIS Oxford Economics property forecast report, it is predicted that Brisbane's median house price will jump 20 per cent by 2022, which is far beyond any other capital city for the same time period, outperforming Sydney and Melbourne.
On top of this, it has also been predicted that Brisbane will see the greatest national gains in house prices, once current supply is consumed in a couple years' time.
"A week Queensland economy and high level of dwelling supply have dampened price growth in recent years," the report notes.
"The result is that house prices in Brisbane are relatively affordable."
If you combine this with the current easy credit and lending conditions and the falling interest rate, "improving the affordability of home ownership will be a catalyst for rising price growth as stronger economic growth returns and the market moves into a rising deficiency."
Angie Zigmanis, BIS Oxford Economics associate director said they think there will be some upside from the point of view of APRA (Australian Prudential Regulation Authority) conditions being removed from some of the bank lenders.
"This will make it easieir for some potential borrowers to take on a loan and purchase a property."
Throughout the country, Brisbane was tipped to have the highest growth in the report, followed by Adelaide, Canberra (10 per cent) and Darwin, Melbourne and Perth (7 per cent).