After a long period of falling dwelling values, Brisbane’s property market is showing signs of a turnaround, according to APM.
“Brisbane has at last give positive indications of turning the corner from what has been a prolonged period of falling house prices,” says APM.
“This is despite an underperforming local economy with unemployment rates persistently above 6% due in large part to state government job cuts.”
APM predicts that investors will return to Brisbane in 2013 and forecasts house prices in Brisbane to rise from 3% to 5% in the new year.
“Established inner and middle-suburban housing markets will continue to attract value buyers. High listings in the outer suburbs, particularly to the north, will however continue to place a lid on prices growth in those regions.
“The inner-city apartment market looks particularly promising with Hamilton and New Farm set to continue their renewal and expansion.”
This is exciting news for Brisbane property owners, if they own Commercial or Residential Property in Brisbane now could be the time to review your finance and see an experienced Brisbane Mortgage Broker! Contact the team at Red & Co today!