Published on July 17th, 2012
Brisbane market shows ‘glimmer of hope’
Confidence is returning to the northern New South Wales and Queensland property market, according to Elders state franchise manager Alan Dawson.
Amid a backdrop of sustained economic uncertainty, natural disasters and changes in government, it is easy to see why so many experts have been keeping a close eye on the nation's real estate sector.
And while some may have cautioned against investing at this point in time, it seems that consumers may have other ideas.
According to Mr Dawson, the change in heart may be due to more than just the sunny disposition that Queenslanders are famous for.
The real estate expert believes that prices in the region have basically bottomed out and will now start to slowly move upwards – offering a "glimmer of hope" to the housing industry.
"The first homebuyer market is the best it has been in years," he said. "Greater Brisbane suburbs have started to move and we have seen an increase in sale numbers."
Suburbs witnessing a recent surge in activity include Shailer Park, Redcliffe and Morayfield – which are both located in Brisbane city.
Improvements have also been seen in regional areas, including the Fraser Coast, Wide Bay and Northern New South Wales, suggesting that housing affordability is playing an important role in investment decisions.
Along with more competitive prices, there are also other factors that are coming together to change consumer sentiment.
"In the last year we have seen interest rates soften at the same time as prices have fallen – which is certainly assisting the housing market," Mr Dawson explained.
Mr Dawson's comments are in line with the latest RP Data-Rismark Home Value Index report released – which recorded a one per cent increase in home values across the nation's capital cities in June.