Brisbane Housing Prices: March 2012, 5 Years of Treading Water
Brisbane continues to track sideways and is now well into it’s fifth year of ordinary performance. With the recent interest rate cut from the RBA the rest of 2012 should continue to remain excellent in comparison to 2011 and we might even show some healthy growth, very few are predicting this which is also a positive for the likelihood of it happening!
Brisbane Property Prices: March 2012
Houses: $428,665
Units: $349,860
Brisbane House & Unit Prices (click for larger)
Traditionally fewer people are interested in buying when the markets are under performing, though that’s when you have your greatest opportunity and best bargaining position, the lesson from the past is that most people seek to buy at the tail end of strong growth, such as late 2007 in Brisbane.
At the risk of repeating ourselves at Allen Real Estate we will indeed repeat ourselves, the following text is from August 2011 and even more appropriate for today.
The lesson of the last two centuries of property prices in Australia is that considering the total market; booms and particularly crashes are few and far between, most of the time markets are consolidating and doing not much at all. In the consolidation phase background factors are ticking away and setting the stage for the next strong growth phase. Factors such as:
> Increasing savings
> Increasing immigration & population growth
> Increasing wages
> Increasing yields
> Decreasing interest rates (cost of money)
> Decreasing rate of supply of new housing
Many of which we presently have in Brisbane.
source: Brisbane – 5 years of sideways movement
And if you ever regretted not buying property and wished you had a time machine, well you aren’t far off in Brisbane at the moment. From this blog also one year previous.
Prices like this are at levels we were selling at in 2007 and well below what was being achieved in 2009-2010.
