Brisbane suburbs within 10kms of the CBD are currently experiencing a two-speed economy, with local vs. interstate buyers competing for Queensland property.
Keen interest from interstate buyers that have been priced out of the Sydney and Melbourne property markets are driving the increased competition. Local agents have seen a rise in not only buyer competition, but property prices too.
According to Real Estate Buyers Agents Association of Australia (REBAA), developers are also shifting their interest from off the plan apartments to land and townhouses.
This allure of investors and developers and their clear focus on Brisbane’s lifestyle, proximity and affordability has caused a shift in Brisbane’s property market, one which we will experience throughout 2018.