Investor Confidence Restored: Brisbane Housing Market Supported By Rental Increases
The Brisbane Housing Market continues to defy housing downturn showing one of largest national rises in rent according to latest quarterly report.
Corelogic’s latest housing report has shown good news for Brisbane investors, with rent prices rising .8% for the first quarter despite concerns regarding the current downturn.
The Queensland Capital has now matched the national median of $436 per week attracting more investors to the nations 3rd biggest City helped by predictions of enjoying the nations largest per capita migration numbers over coming years.
The latest report shows a changing of the guard for Brisbane recording an overall annual growth of 1.4 percent after several years of a declining rental market. Brisbane property is also presenting strong rental yields at 4.55% above the national average of 4.1%.
The rental increase is a positive sign for investors, but relative affordability compared to the more expensive Sydney and Melbourne means Brisbane is seeing the largest numbers of interstate migration as well as some of the strongest investor confidence overall.
Inner city suburbs are projected to present great capital growth opportunities but will be followed closely suburbs in the middle and outer rings as entry level investors look to take advantage of Brisbane’s opportunities.