A few inside the property industry have tipped that Brisbane and its surrounding regions in South-East Queensland will continue on their uptick in price growth.
Streamline Property Buyers managing director Melinda Jennison believes that after the state border reopened in mid-December, more interstate migrants will add to the already heightened demand in the Sunshine State’s capital.
The reopening of international borders is also expected to add further pressure.
“Brisbane property growth is leading the nation and we expect this may continue in the months ahead,” she wrote in the Bricks and Mortar report.
Mr Foley, buyer’s agent from Grant Foley Property has suggested prices in Brisbane will rise by a further 10 to 15 per cent in 2022, fuelled by interstate migration and investor activity – in contrast to his moderate prediction for Sydney of 5 to 10 per cent.
The Brisbane market could slow at some stage next year, if prices stretched to a level where affordability became a concern and if there were further constrictions on lending or rises in fixed interest rates – but Ms Jennison has said there is still no sign yet of those limits.
“We expect [regulatory changes or a rate rise] to have less of an impact on the Brisbane market due to it being more affordable relative to the larger cities of Sydney and Melbourne,” Ms Jennison asserted.
A further dampening force could be a rise in listings.
“With listings currently 33.9 per cent lower across Brisbane in the four week period to 28 November compared to the five year average there is clearly a shortage of properties for the heightened demand we have been experiencing throughout the city,” Ms Jennison stated.
“At this stage we [are] seeing no signs of this [a substantial rise in listing volumes], but it is an indicator to keep an eye on in the early months of 2022.”
Source: https://www.mortgagebusiness.com.au/breaking-news/16346-property-predictions-for-2022