If you plan to sell today then the best time to have bought a house in Brisbane for maximum price growth was in September 2005, while it was best to purchase a unit in March 2004, reports Domain.
How do they figure that? It’s based on real dollar value gains between historical quarters to December 2018. In other words, it’s stats boffins having fun with numbers. The point is if you bought in those periods your dollars worked harder for you than someone who bought at a different time.
Ah hindsight, such a wonderfully annoying thing.
So what will property prices do over the next 15 years or even longer? Well some other stats boffins have recently had a crack at solving this calculation.
Brisbane median house prices will be $2.24 million in just under 25 years’ time, and median unit prices will be $1.15 million, reports Property Update.
How did they come up with that? The clever cookies at Aussie and CoreLogic had some fun with spreadsheets and assumed the same growth rates over the past 25 years will persist for the next 25 years.
Is that likely to be the case? Short answer: who knows.
If you want to buy today the best thing to do is figure out what’s important to you in a home or investment and be clear what you can afford. Time will play out how it wants to.