With its dynamic growth, thriving economy, and laidback lifestyle, Brisbane is a prime destination for property investors and homebuyers alike. But with so many developments happening in the city, it can be overwhelming to keep up with the latest trends and opportunities. That’s why we’ve created the MyCity Brisbane Property Report 2024.
Gone are the days of digging through endless data and trends to seize the golden opportunity in Brisbane’s property market. The 2024 MyCity Brisbane Property Report presents a comprehensive analysis of the city’s property market, providing you with all the information you need to make an informed investment.
With an expected influx of 220,000 new residents over the next five years, Brisbane offers an appealing market for property investment. This population growth is driven by a blend of international migration and domestic migration. Brisbane’s growing reputation as a business hub and its strong job market also contribute, coupled with the anticipation of the 2032 Olympics, will only further accelerate this trend, making it an attractive prospect for investors.
Brisbane’s housing market is a beacon of affordability when compared to its southern counterparts, Sydney and Melbourne. The median house price in Brisbane, at $834,692, is significantly lower than Sydney’s $1,321,874, making it a more accessible option for property buyers. However, this affordability is likely to diminish as demand surges, making early investment an astute decision.
Booming Economy and Infrastructure: Brisbane stands at the cusp of a transformative era. Queensland’s monumental $89 billion ‘Big Build’ infrastructure program, to be rolled out over the next four years, promises extensive development opportunities. This includes improved transportation networks, urban expansion, and business growth.
Global Recognition: Brisbane’s global prominence is on an upward trajectory, with the honor of hosting the 2032 Olympics. This event is set to illuminate the city’s vibrant and dynamic lifestyle while delivering substantial economic and infrastructural benefits. The spotlight on Brisbane will not only attract more residents but also make it a hub for sports, technology, and business, thereby enhancing investment potential.
Low Vacancy Rates and High Rental Yields: Brisbane’s vacancy rates are currently at a low of 1%, making it an ideal time for property investors to enter the market. With high rental yields and strong demand, investors can expect stable returns on their investment.
Growing Population: As the third largest city in Australia, Brisbane proudly encompasses a diverse population of over 2.6 million individuals, with 31.7% originating from overseas. With a remarkable climate, exquisite beaches, and a robust economy, this growth is anticipated to continue in the foreseeable future. For property investors, this presents an opportunity to tap into a diverse and growing market.
Download the report and learn more about this special city as well as its investment credentials for property investors.