Whether you are looking to invest or enter the property market as a first home buyer, now is the time to take action. Steady growth is predicted for Brisbane and this coupled with low interest rates has created a buyers’ market. With regards to growth in the market, the last 12 months have seen Brisbane house prices rise by 5.9%, according to figures released by RP Data. This takes median dwelling prices across the city to $452,200.
These figures place Brisbane third behind Sydney and Melbourne, but saw it rank ahead of other capitals cities, all of which increased by less than 4% in the same period.
The good news for buyers is that low mortgage rates haven’t stimulated the market as much as similar drops have done in the past. This is due to factors including unemployment, low rental yields and political uncertainty, which have lessened the demand that generally results from cuts. All of this means you can enter the market during a period of steady growth and watch the value of your property continue to grow while enjoying the peace of mind of a low fixed interest rate.
If you are looking to enter the property market as an investor or first home owner, I can help you look at your finances and choose the loan that’s right for you. Call me to have a chat about how you can make the most of current market conditions.