Brisbane property market turning the corner: APM
After a long period of falling dwelling values, Brisbane's property market is showing signs of a turnaround, according to Australian Property Monitors.
"Brisbane has at last give positive indications of turning the corner from what has been a prolonged period of falling house prices," says APM.
"This is despite an underperforming local economy with unemployment rates persistently above 6% due in large part to state government job cuts."
APM predicts that investors will return to Brisbane in 2013 and forecasts house prices in Brisbane to rise from 3% to 5% in the new year.
"Established inner and middle-suburban housing markets will continue to attract value buyers. High listings in the outer suburbs, particularly to the north, will however continue to place a lid on prices growth in those regions.
"The inner-city apartment market looks particularly promising with Hamilton and New Farm set to continue their renewal and expansion."Click to enlarge
The Mark at Sydney's Central Park
Much has been spoken about the global property market and that our market will ultimately follow a similar fate and I am always at pains to point out not all property is created equal.
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