In the last month, Brisbane proved to be the only major state capital in Australia to have home values rise. According to the CoreLogic November hedonic home value index, Brisbane home values increased 0.1 per cent, while Sydney’s and Melbourne’s went down.
Experts say this growth can be attributed to high employment, affordability and low vacancy rates. Two other major factors are population growth and infrastructure spend. Interstate migration has brought up the population to its highest in a decade. Meanwhile, infrastructure spend is seeing upwards of $55 billion for over 130 major projects.
“The best is yet to come,” according these experts. Brisbane is in a strong and positive position to recognise growth due to these factors.
Affordability has lent a hand in a demand for housing as well. The report further indicates that the current market is sustainable compared that of other major cities, making Brisbane the country’s most stable market.
Just August of this year, it was also reported that Brisbane led the the pack of strongest performing major capital city. The last time this occurred was in 2007.