North! North! Go to Brisbane real estate speculation! Sydney and Melbourne are falling out of favor?
"Chinatown"-Official media of Chinese Australians
The latest report of the Bank for International Settlements (BIS Shrapnel) shows that due to the high housing prices, investors in the South are increasingly turning away from properties in Sydney and Melbourne, instead choosing to get together all the way north in Queensland.
The Australian Financial Review cited the above report on the 2nd as saying that although relevant agencies predict that Sydney and Melbourne house prices may fall due to rising cash interest rates from 2016 to 2017, for investors, they have turned their attention to Brisbane and Melbourne. Queensland cities such as Gold Coast and Sunshine Coast.
According to Ocean Daily, it is reported that the median house price in Sydney is as high as A$78.5 and Melbourne is also as high as A$52.7. In contrast, Brisbane’s average price of A$47.5 is quite competitive. The Bank for International Settlements predicts that in the next three years, the average price of single-family houses in Brisbane will rise by 3%, and the average price of apartments will rise by 13%. The fall in cash interest rates in the second half of this year will once again increase the affordability of Brisbane properties.
Gold Coast real estate broker John Newlands said that in the past few months, he was overwhelmed by calls from investors in the south. "Compared with Sydney and Melbourne, Brisbane housing prices are very affordable. A large number of interstate investors are pouring into Queensland. They are particularly interested in the apartment market." Newlanders continued, due to the success of the Gold Coast. Won the right to host the Commonwealth Games in 2018, and investors are interested in the rate of return on properties here.
Data from CoreLogic RP Data shows that, looking at the single-family house and apartment market in Australia's large cities, Brisbane is indeed the real estate market with the highest return on investment.
It is worth mentioning that overseas investors such as Chinese are also looking at the Gold Coast apartment market. Statistics show that in the past year, 6 million Australian dollars worth of properties on the Gold Coast were bought by wealthy Asian buyers.
Article reprinted from Aohua Finance Online
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