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The end of 2018 has seen the Brisbane Property Market come out flat over the previous 12 months, although some sub-regions throughout the greater Brisbane region seem to have outperformed others. Here in this Brisbane Property Market Update December 2018 we provide the latest statistics to demonstrate what is currently happening in the local market.

The most recent Corelogic data confirms that Brisbane has experienced an annual change in median property prices of just 0.2%.

This is hardly significant, but it does show that by the end of December, the Brisbane Property Market has demonstrated more resilience in an environment where tighter credit conditions have contributed to a much greater decline in the larger cities of Sydney (-8.9% annual change) and Melbourne (-7% annual change).

Interestingly, areas within the Brisbane City Council region and Moreton Bay Shire Council have taken 4 places in the national top 10 sub-regions for annual change in dwelling values around the nation, according to the same Corelogic data.  These areas are Brisbane West, Brisbane East, Moreton Bay North and Moreton Bay South. This is good news for the Brisbane Property Market and provides more confidence for property buyers that some regions, where land is limited and therefore new housing supply is minimal, will most likely continue to outperform – even with the macro-prudential regulations that have been in place.

So where to from here? What do we expect in 2019 and beyond within the Brisbane Property Market?

According to the 2018-2021 report from BIS, Brisbane house prices will continue to appreciate through to 2021, with an overall expected growth of approximately 13%.  This significant increase is due to:
• consistent population growth
• improved job creation rates
• low unemployment rates
• Brisbane’s jump to top major city for relocation.

It is also important to keep in mind, however, that there may be political and economic factors that may impact on the property market as a whole.

The impending Federal election in 2019, and uncertainty about changes to some policies, including Labor’s proposed changes to negative gearing and capital gains tax for property investors, may cause further stagnation and uncertainty. We are also yet to see how any changes as recommended by the banking Royal Commission may be implemented.

Despite the headwinds, the Brisbane Property Market still seems well placed to benefit with moderate property price growth into 2019 and beyond.  To find out more contact us at www.streamlineproperty.com.au.