Buyers Agent Guide is a free resource for buyers wanting to purchase a home or investment property. Find a buyer’s agent in Brisbane to simplify your real estate purchase.
For most people, a great deal of effort, time and stress go into finding the right home or property investment. Engaging an independent property expert with in depth knowledge of the Brisbane real estate market can smooth the process and eliminate uncertainty.
BAG will help you navigate the ins and outs of using an agent and provide handy tips on how to find a buyer’s agent in Brisbane to suit your circumstances. Whether you are a home buyer or property investor we can point you in the right direction for a low stress buying experience.
Brisbane property is cheaper than other eastern seaboard capitals, however agents understand that if the market continues on its current trajectory, the 5 year median house price may surpass that of Sydney and Melbourne.
Queensland’s population has grown by more than 25% in the past 10 years – double the rate experienced in NSW – and the latest ABS population forecasts show that this doesn’t look to ease off. A property expert can help you to identify suitable properties that not only meet your immediate needs but also have strong capital growth potential.
If you are a residential property investor, a Brisbane purchasing specialist can assist you in finding a property with the highest possible rental returns in the area you would like to invest, as well as sharing their knowledge of destination suburbs for migrants from both interstate and overseas.
Agents also have thorough knowledge of key infrastructure projects planned by the government and can advise you which of these steer clear of and which are advantageous to be positioned near.
Brisbane Property Market Update (As at March 2013)
After two years of inactivity and flat prices in the Brisbane property market there are clear indications that the upturn has arrived. This has been driven by investors’ taking advantage of Brisbane’s comparatively low median house prices. The city is currently in the bottom three of the capitals, with median house prices lower only in the less appealing cities of Hobart and Adelaide (see figure 1). The local rental market also contracted.
Figure 1 – Median house and unit prices (3 months to February 2013)
With the exception of remote Hobart and Darwin, investment yields in Brisbane are currently the highest of all other capital cities. Queensland’s market outperforms both Sydney and Melbourne with the gross rental yield for houses averaging at 4.7%. Units achieve even higher yields, averaging 5.6% (data as of February 2013).
The latest data from ABS (data as of November 2012) also highlighted increased investor activity. Financing approvals for residential investments in Queensland increased by 20% over the first 11 months of 2012 when compared to the previous corresponding period.
Over the year to February 2013 Brisbane property values increased by 1.2% (see figure 2), tracking the capital city benchmark. House values increased by an average of 1.4% as opposed to unit values, which fell by 0.3%.
Figure 2 – Annual change in capital city property values
During the second half of 2012 property sales were 13% higher than the first half. This result indicates a return of demand for property, however the numbers are still a long way shy of previous years’ with annual sales still 17.1% lower than the rolling 5 year average. RP Data reports that in 2012 there were 38,680 property sales, an increase of 11.9% on the previous year.
Figure 3 – Decline in property values from their peak (to February 2013)
Figure 4 – Average annual change in property values (past 5 years to February 2013)