Yes, some extra cash for Christmas would be nice, but it’s the value of your property that drives your wealth in the long run.
As we reported last week, interest rates, in isolation, have very little impact on property values.
And experts are tipping another factor – jobs growth – to keep Brisbane house prices on a steady upward trajectory.
CoreLogic RP Data notes that more than two-thirds of capital city employment growth occurred in Sydney and Melbourne during 2008 and 2015, corresponding with enormous property value growth spurts in both cities.
“While job creation isn’t necessarily the be all and end all of housing demand it is an important component to consider,” CoreLogic RP Data reports.
“It certainly goes some way to explaining why home value growth has been much stronger in Sydney and Melbourne over recent years than in other cities.”
The data also shows full-time employment has recently increased in Brisbane and Hobart, giving rise to optimism about our 2016 property fortunes.
“The recent relative strength in job creation in Brisbane and Hobart may signal increasing housing demand in those cities over the coming year.”
Read the full report on the CoreLogic RP Data website.