Wednesday, 21 August, 2019

Subscribe

Brisbane prices at bottom of property price cycle


Riverfront homes or those with river views were among those with strong fundamentals for growth.

Brisbane has been labelled the “capital city poster child” with strong fundamentals as the market prepares for an upswing off the bottom of the price cycle.

This as the latest national property clock by valuation advisory firm Herron Todd White showed the Queensland capital was at its lowest price level in the latest cycle, which has seen a rise in interest from buyers priced out elsewhere.

MORE: Own your own cop shop

Ugly duckling headlines auction day

Homes with parking for the plane

Own home is architect’s grandest design yet

Herron Todd White National Property Clock: Houses; August 2019. Source: HWT.

Brisbane, Ipswich, Bundaberg, Rockhampton and Toowoomba were at the bottom of the market pricewise for houses, according to the HWT property clock, while Cairns, Gladstone, Mackay, Townsville and the Whitsundays were at the start of recovery in prices. Emerald was a rising market, while the Sunshine Coast was at its peak for prices and the Gold Coast was a declining market.

Units in St. Lucia, Brisbane, have the allure of being in a university suburb. Picture: Liam Kidston.

Herron Todd White Brisbane managing director Gavin Hulcombe told The Courier-Mail there was impetus for Brisbane price rises given the Queensland capital had been “bouncing along the bottom for some time now”.

“I think it will be steady rise but my suspicion is in a couple of years’ time we might look back and think it (now) probably wasn’t a bad time to buy. Some areas are likely to perform better than others,” he said.

Herron Todd White National Property Clock: Units; August 2019. Source: HWT.

The property clock showed that for units Brisbane was at the bottom of the price cycle, along with Ipswich, Bundaberg, Mackay, Rockhampton, Toowoomba and the Whitsundays. Cairns, Emerald, Gladstone and Townsville were already seeing unit prices start to recover (rise), while the Sunshine Coast was at its peak and the Gold Coast was declining.

The latest HWT report said “Brisbane is the capital city poster child of how property fundamentals drive values”.

Brisbane was labelled as having “plenty of property with the right fundamentals to attract all buyer types” and was “regarded as relatively affordable by large capital city standards” with multiple drivers of real estate values.

“The old rule of property economics has broadly applied — if all else is equal, then the closer a suburb is to the CBD, the more valuable its land per square metre,” it said.

But other fundamentals were working for Brisbane properties including proximity to the river “especially if you have a frontage or a view” and school zones had “certainly become a key draw card too”.

Plus, it said, “cafe hubs are excellent indicators of desirable suburbs”, with many lifestyle buyers looking to be “within five minute’s walk of a decent cuppa”.

FOLLOW SOPHIE FOSTER ON FACEBOOK

0 comments on “Brisbane prices at bottom of property price cycle

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Please subscribe:

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Coester.com will use the information you provide on this form to be in touch with you and to provide updates and marketing.