And our sunny city certainly has a track record of creating happy home buyers over the long term.
A report released earlier this year from Aussie and Core Logic identified 20 Brisbane suburbs that had more than doubled in value on average every 10 years.
But like any city, Brisbane is made up of many mini property markets and not every property or location will see the same growth potential.
So what do you look for?
Start by doing your research. Make sure you develop good relationships with local agents you can trust to help build your knowledge of local markets.
We also enjoyed reading these tips from Property Update. Let’s start with a no-no…
- Don’t buy sight unseen in Logan. We’ve got nothing against Logan, it’s a fine city. The cautionary tale is that it’s one of the places where Sydney investors are buying sight unseen. They’re taking the gamble that they’ll ride an inevitable wave of growth regardless of the property.
- Do select an area with a track record of sustained capital growth, looking for Brissie’s best properties in the inner- and middle-ring suburbs.
- Do look for properties with potential to manufacture growth through renovation or redevelopment if you’re feeling bold.
- Do look for the x-factor. A character Queenslander in the right suburb may well hold its value better over time compared to a stock standard brick and tile beauty, but weigh up the maintenance costs too.