It looks like it’s finally Brisbane property’s time in the sun.
Many commentators agree that the Brisbane property market will be one of the strongest performing residential market over the next few years.
But if history repeats itself, and it most likely will, many investors won’t maximise their upside, or protect their downside when investing in Brisbane.
And many interstate investors will plain get it wrong.
Watch as Brett Warren, director of Metropole Properties Brisbane and I discuss…
5 important things investors must know about investing in the Brisbane property market
You’ll hear us discuss:
Brisbane is not as expansive or wide ranging like Sydney and Melbourne
Key Drivers of growth are lost once you get past 10-12km ring
Employment hubs, wages growth, public transport and infrastructure
Larger supply of land around the 10 – 15km ring
Lack of superior school catchments
Brisbane property transactions are more Buyer Friendly
Less final and cut throat than other states
You can often insert Building & Pest, Finance or Due Diligence clauses in contracts
Fewer Auctions and more “Multiple Offer” scenarios
Around 50% less Auctions in Brisbane
Lack of Auction culture
Multi offer scenarios are most common – where you put your best and final offer in
Everything is negotiable
Could be $500 apart or $5,000 apart?
Flooding and Stormwater
If you didn’t already know, Brisbane is prone to flooding
One side of the street vs the other
A lot of lower lying areas receive water on a regular basis with lots of storms
Brisbane is undulating and run off form stormwater can create havoc in certain properties
Always check flood and stormwater maps provided by Brisbane City Council
Very different Indoor / outdoor living
Warm and sunny all year round
Properties that have an indoor / outdoor living combination sell and rent for a premium
Open plan flow and living spaces that bring the outdoor in
Easy way to add value is by adding a deck or reconfiguring living spaces
Read more: propertyupdate.com.au