House prices in Brisbane are going to double?
Recently, the “Daily Mail” reported the recent development of Australian real estate, this report shows that thousands of Australian residents have moved to Brisbane to escape the epidemic. Therefore, The house price of Brisbane may double in the next few years. In the past 15 years, the number of people moving to Queensland in 2020 is the largest, reaching more than 30,000. With a population of approximately 3.7 million in southeast Queensland, it is already the fastest growing region in Australia. Forecasts show that in five years, the population will exceed 5 million. Queensland Premier Annastacia Palaszczuk and the real estate expert both said that it may be a long-term trend for people to move from other states to Queensland in this special period and this trend also affects the real estate market in Australia.
CoreLogic’s relevant Australian real estate data shows that the current annual growth rate of house prices in Brisbane is 18.4%, ranking third in the country in August. In addition, Brisbane’s current house price is A$678,000, less than half of Sydney’s. By 2032, Brisbane’s data may be as high as 1.5 million Australian dollars. A survey conducted by the Australian Bureau of Statistics shows that the trend of remote work is expected to continue to exist in many businesses compared to before the epidemic. Real estate expert Pete Wargent believes that although job opportunities have made Sydney and Melbourne the main population growth centers, internal migration has sharply reversed during protracted lockdowns, with southeast Queensland the main beneficiary. Although strict inspection requirements for properties for sale affect the turnover of the real estate market, it does not affect buyers to continue to make relocation plans, especially in Victoria.
House prices in this area of Melbourne are going to rise?
Footscray in Melbourne is a multicultural community with many essential lifestyle advantages, such as a vibrant business district, train station and school. In Footscray, a new hospital costing 1.5 billion will further promote the development of local real estate. Footscray has now become a real estate development area with great potential for appreciation. Footscray has now become a region with great room for appreciation, with local residential prices rising from A$850,000 in 2020 to A$1 million now. But compared with the real estate in the CBD, this price is affordable, so it has become a good choice for many people to invest in real estate. Footscray’s apartment market is very cost-effective. Apartments with two bedrooms, one living room and one parking space are usually sold for between A$300,000 and A$400,000.
Contact Sightstone
For a long time, Sightstone has tried our best to give back to customers with a very professional service attitude, and to give back to the society with the output of highly artistic projects. In terms of residential space, Sightstone provides properties and designs that meet market needs; in commercial properties, Sightstone actively promotes tourism and property development to achieve economic benefits and social value. If you want to know any Australian property development information, please feel free to contact us. We will provide you with the most professional opinions and suggestions.