It wasn’t long ago when there was a prediction for the property market in Brisbane to follow the footsteps of Sydney’s market conditions.
However, affordable housing options and attractive lifestyle turned this prediction around. Brisbane market space is very diverse, where everyone can find the property of their dreams. Generally, across Brisbane, property prices increased by 5 per cent throughout 2019, and it’s surprising to see such growth returning so quickly.
There’re some suburbs that shined more than others. Here’re the top 5 suburbs that experienced exponential growth:
- Windsor – 19.14 per cent increase, rising to $905,500 median house price
- Northgate – 16.81 per cent increase, rising to $695,000 median house price
- Dayboro – 14.26 per cent increase, rising to $597,500 median house price
- Woodford – 13.65 per cent increase, rising to $385,500 median house price
- Woody Point – 11.81 per cent increase, rising to $525,500 median house price
With such strong market conditions and stabilising growth, Brisbane prices are expected to see record-high growth by mid-2020.
This is a great opportunity for First Home Buyers to get in the market as early in the year as possible since the property market is growing and increasing in value. The new deposit scheme that started from January 1 is aiming to help 20,000 families in 2020 to apply for a mortgage with as little as 5 per cent deposit.
Find out what opportunities are available for you as a First Home Buyer by contacting one of our mortgage brokers.