West End Seen to Lead Growth in Queensland Property Market in 2018

Photo credit: Kgbo/Wikimedia Commons

Queensland’s property market is expected to continue its growth in 2018, with suburbs such as West End and Carina leading the pack.

Brisbane is expected to see price increases in the housing sector this year, after a slowdown towards the end of 2017. The slowdown was apparent across the country, particularly in Sydney.

CoreLogic, a top source of property market data, indicates that prices would grow much faster in 2018 than in the previous year in Brisbane. Growth would be primarily buoyed by improvements in the job generation and continuous migrant influx.

While Brisbane trailed Sydney and Melbourne in recent years in terms of dwelling values, the outlook remains strong for Brisbane. CoreLogic revealed that Brisbane dwelling prices were 46% lower than those in Sydney and 32% than in Melbourne. This price difference gives Brisbane the affordability advantage.

CoreLogic reviews Brisbane’s Housing Market in 2017. (Credit: CoreLogic Australia/YouTube)

Growth Areas

Brisbane suburbs that are predicted to do well in the property market are West End and Carina. West End has always been a favourite in Brisbane’s property sector. This is mainly because of its proximity to the CBD and the Brisbane State High School catchment.

Property buyers may have to get into the action quickly if they are interested in the attractive West End market. That’s because the supply is not as high due to strong demand. Houses typically sell quick, so many people tend to miss out on the opportunity.

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Another bright spot in the market is Carina, which has had consistent growth in the last five years but dwindled in 2017. Property experts predict strong investment opportunities in the suburb, thanks to quality schools and sound road infrastructure.

Other areas expected to become more popular among investors are Mount Gravatt East, Kenmore and Cannon Hill.