Brisbane House Prices Tipped to Rise in 2021

Brisbane House Prices Tipped to Rise in 2021

Prices are up lately and are tipped to rise further in 2021 according to some of the most respected economists in Australia. The rise is predicted due to low interest rates, buyer incentives, and the improvement in the job markets as well as the economy and government stimulus. 

 

AMP Economics Chief Dr. Oliver expects the upward trend to continue this year, with some capital cities, including Brisbane, to experience up to 10 per cent growth. In addition, Westpac’s chief economist has also forecast Brisbane’s housing price to grow up to 8 per cent and to even surge a further 10 per cent in 2022. In addition to that, ANZ expects a rise up to 9.5 per cent in Brisbane’s housing price considering that the city, after a few years of underperforming, is now catching up; and furthermore, the city has so far been less impacted by the pandemic, which means we’ve got lower debt levels to start with.

This is indeed good news brought to Brisbane homeowners by the new year! In fact, the data from CoreLogic displays that Brisbane housing markets are now at a record high in terms of housing value, and that it shrugged off coronavirus concerns to outperform both Sydney and Melbourne.

 

“Brisbane housing values rose by 1.1 per cent over the month of December,” CoreLogic’s Head of Research, Tim Lawless said. “It really highlights how popular some of the lifestyle markets have become around the country” he added.

With all this data, experts are claiming that now could be a good time for property sellers to put up the sale sign, especially considering that “We’ve still got very strong interstate demand and of course those low interest rates,” REIQ CEO Antonia Mercorella told 9News.

 

If you would like to have a chat about the potential value of your property, or discuss a strategy to get ready to go to the market, please get in touch with us and we will be happy to help with any of your real estate needs.