But for home owners who have their wealth tied up in property, the question remains: when will Brisbane have its next growth spurt?
Brisbane property owners have spent much of 2015 watching from the sidelines as Sydney and Melbourne have dashed ahead. But as we’ve reported previously, experts are tipping a slow and steady pace for Brisbane, set to continue even after Sydney and Melbourne have run out of puff.
So what accounts for Brisbane’s slower growth rate and when will we be cleared for take off?
Slowing Chinese growth and stock market volatility are causing concern about the global economy, reports Domain Group senior economist Dr Andrew Wilson, and this has ripple effects on the Australian housing market.
So should we all crawl back under the blankets, hit the snooze button and wait for a sunnier day? Not necessarily.
There are silver linings to these global storm clouds, with the lower Australian dollar and low interest rates good news for Queensland’s tourism, farming and mining sectors, according to the Deloitte Access Economics Business Outlook report cited in Your Investment Property magazine.
So if you’re thinking of buying or selling, seek advice from your local experts to find out where the sun is shining on Brisbane’s property market.