Brisbane has been in the spotlight of late – winning its bid to host the 2032 Olympic games, which has elevated the city to the international stage. With the inevitable associated growth in infrastructure and the economy, so too will the population begin to rise and many commentators believe this is just the start of a decade long property bonanza.
On a less positive note, devastating weather events such as cyclones and flooding will also have a flow-on effect on the housing market. However; historically the Queensland property market has proven to be able to bounce back from these types of events over the long term.
Warm weather is typically a major drawcard for Brisbane, as well as the laidback lifestyle attracting new residents and investors alike. Because of this, affordability is likely to become an issue, particularly with post-pandemic migration returning.
All of these factors make now a lucrative time to invest in the Brisbane property market and it’s unlikely that investors will look back in a few years’ time, regretting their decision.
Other trends and influencing factors to note include a predicted interest rate rise over the coming years, with the first rise anticipated to hit late this year. The building and construction industry is already seeing the increase in costs of building production and construction materials which are going to continue to impact markets nationally, with some reports anticipating a housing shortfall as a result within 10 years.
