Well, make way mum and dad, because a new report is heralding the arrival of Generation Y as the prime mover of Brisbane’s housing market.
Over the next decade, people aged 20 to 34 will move into their next stage of life and shift housing demand as they do so, according to a new report from BIS Oxford Economics, published on realestate.com.au.
“If Generation Y follows the trend of the previous generation and eschews renting in favour of larger dwellings as they enter the family-forming age of life, then this will support a decade-long boom in demand for new houses and land in the new housing estates on the outskirts of Australia’s major cities and affordable major regional centres,” said report author Angie Zigomanis.
In Brisbane this means outer suburbs like Ipswich, Logan, Jimboomba and North Lakes are set for a Gen Y influx.
But there will also be strong demand for established housing within 10km of the CBD as many Gen Ys would be reluctant to move too far out from their familiar inner city stomping grounds.