Brighter Buying

Brissie prices rise, while Sydney slips – we knew it would happen

by Kate Watt, Marketing Manager 13 October 2017

Sydney property prices fell last month for the first time in a year, while Brisbane house prices continued to inch ahead at a steady pace.

You could be forgiven if you didn’t notice. In Sydney dwelling values fell 0.1 per cent and in Brisbane home values rose 0.3 per cent, according to the latest CoreLogic data.

A steady market is good news for first timers striving to save a deposit and snare their first home.

But investors and wealth-builders in the market already may be excited to hear a growth spurt could be just around the corner.

“Interstate migration is picking up, so looking ahead will depend on that. The figures would seem to suggest the Gold Coast and Sunshine Coast are benefiting more from migration,” CoreLogic senior research analyst Cameron Kusher told The Courier-Mail, the Weekly Times reports.

“If we continue to see job growth (in Queensland), we might see more people leave Sydney and Melbourne for Brisbane.”

It’s the magic ingredients of population growth, fuelled by jobs growth, that will open the flood gates as it has done before and we’ll see a rush across the border.

That would take care of the glut of inner city units too.

“If the population growth really ramps up, you can eat into that (unit) oversupply pretty quickly,” Mr Kusher said.

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