BRISBANE REAL ESTATE ON THE RISE

BRISBANE REAL ESTATE ON THE RISE

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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