Good news for property owners


first_imgBuckle up Brisbane! New results point to a future upswing in our property market. Photo: AAP/Marc Robertson.IF you’ve become accustomed to Brisbane’s comparatively lacklustre property performance, there’s better news ahead, according to CoreLogic head of research, Tim Lawless.Mr Lawless said indicators show new residents are beginning to come to the great South East for more than just retirement.“I think that’s changing,” he said.“It’s a recent development that we’ve started seeing a pretty decent jobs growth across the state. The latest figures I’ve seen is a 2.7 per cent rise in total jobs over the past 12 months across QLD, and that’s well and truly outpacing population growth,” Mr Lawless said.“Up until now it’s been very much a lifestyle trend of the coastal markets befitting.”CoreLogic’s August Hedonic Home Value Index revealed Brisbane’s mediocre performance across its residential market with an all-dwellings value gain of just three per cent for the past 12 months.This places Brisbane behind Sydney (13 per cent), Melbourne (12.7 per cent), Adelaide (5.2 per cent), Hobart (13.6 per cent) and Canberra (eight per cent) for value gains, according to Mr Lawless.More from newsMould, age, not enough to stop 17 bidders fighting for this home1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor1 hour ago“I would have thought by now we’d have seen some improvement just considering the yield is so strong across Brisbane, population growth is picking up a little now and jobs growth has picked up as well,” Mr Lawless said.“I still think a stronger growth profile (for Brisbane) is just around the corner,” he said.A breakup of the numbers revealed unit values continued to drag on our market.The index showed detached dwelling values rose 4.3 per cent over the year to date while attached housing values fell 3.2 per cent.Yield measures revealed a better story, with houses achieving a rental return of 4.2 per cent per annum, while units brought in 5.3 per cent.Mr Lawless said Brisbane buyers who look for property with good fundamentals should remain positive.“Those areas within ten kilometres of the GPO (general post office) are moving quite quickly with high demand, and compared to their larger city counterparts, prices are very affordable,” he said.Follow Kieran Clair on Twitter at @kieranclair or Facebook at Kieran Clair — journolast_img

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