The wait is over. After a tumultuous few years of ever growing house, unit and apartment prices, sky high interest rates, Brisbane is finally seeing a welcoming drop in the house prices.
This new revelation comes as a welcome stranger for not only for the buyers of Brisbane but across the entire nation as the whole country witnesses’ massive changes from Western Australia all the way to The Northern Territory and our place to call home… Queensland.
Experts who are studying these changes say Queensland is likely to out-perform and out-sell all other states this year as the numbers continue to show in favour of buying over renting. Of course, the big question with these results is – Will this be favourable in the long run? The answer to that question is an enthusiastic YES! Taking into consideration the costs of living and buying from stamp duty and maintenance to the overall rates throughout the next decade, Brisbane looks to be in tip top shape for the best performance when deciding to buy rather than renting.
With this statistic, more than 50% of Queensland suburbs are cheaper to buy over rent with another 60% of dwellings estimating to being cheaper to buy overall. A report generated by Domain shows that overall, the top to regions in Brisbane where houses are selling for less than their asking price are Sherwood-Indooroopilly and Brisbane-North with the former having a massive annual change of more than 80%. Sherwood-Indooroopilly incorporates some of the most attractive towns on the market including Graceville and Chelmer whilst North-Brisbane covers Newmarket, Hamilton, and Grange; Newmarket in particular featuring new development and greener living over the past year with more to come.
Brisbane is the perfect place to buy right now. Not only are these price drops great, the lifestyle of cleaner, greener living (as discussed last post) is ideal for individuals and families alike.
