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BRISBANE’S property market is trailing Sydney and Melbourne but is set to take off, according to research by ANZ.
The latest Housing Market Update shows the river city is sustaining year-on-year growth of 5.5 per cent.
“The inner Brisbane suburb of New Farm for example, has been identified as a major hotspot to watch, with average annual growth of four per cent over the next five years.
Raine & Horne eastern suburbs principal Margaret Vote says she has noticed a 10 per cent increase in buyer enquiries compared to six months ago.
“Our buyers are a mix of investors and owner-occupiers, with owners dominating the market.
The optimism follows the recent sale of a block of land for $285,000 in Wynnum West to a house in Manly selling for $1.275 million on the other end of the spectrum.
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