Predicting specific price movements in the relatively short time span of just one year is difficult because a lot of things can happen locally, nationally and internationally to affect the magic growth number.
In general terms, Brisbane remains a steady market. But will it grow by 1 per cent, 3 per cent or 6 per cent this year, maybe more?
One report suggests all scenarios are possible depending on things like interest rate movements, regulatory changes and even the tug-of-war that plays out for international trade.
The good news for Brisbane is that regardless of the scenario, we’re likely to see growth, according to the SQM Housing Boom and Bust Report for 2020, reports Property Observer.
Here is what our property price moves could look like in 2020:
- Base scenario: growth of between 3 to 6 per cent
- Best scenario: growth of between 4 to 7 per cent
- Worst scenario: growth of up to 1 per cent, or a slip by 3 per cent
A further rate cut, a stable economy and international trade, as well as no new regulatory intervention are the magic ingredients for the highest growth scenario. With a rate cut tipped for as early as February, this forecast may soon be one step closer to realisation.
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