It might not be a double-digit growth bonanza, but after years on simmer while southern markets sizzled, south east Queensland in particular looks like it’s finally hitting upswing mode.
CoreLogic head of research Tim Lawless told news.com.au an improved job market and increased migration were pointing to the possibility of higher price growth in Brisbane in 2018.
Regional Queensland markets, particularly mining regions, were also due to turn a corner after a sustained post-mining-boom slump.
Property analyst Michael Matusik was also forecasting a continued upswing in 2018, reports news.com.au. Brisbane’s relative affordability compared to Sydney and Melbourne was working in its favour.
While the improvement might be “mild” for 2018, Matusik said the magic ingredient of more jobs was needed to drive a stronger property recovery.
Forecasts for the Brisbane apartment market were also relatively upbeat compared to doomsday scenarios forecast in 2017. Matusik believed the current oversupply would be absorbed fairly quickly, primarily because the new apartment supply had almost stopped.