PropTrack reports Brissie prices boomed 12.2 per cent in the 12 months to 30 June 2024, and they expect growth of between 3 and 6 per cent in the 12 months to 30 June 2025.
That’s a solid market and places Brissie in a similar growth forecast bracket as Sydney and Melbourne.
Perth and Adelaide meanwhile are topping the nation with growth forecasts of up to 11 per cent and 8 per cent respectively.
Key factors affecting price growth in Brissie include continued high demand as renters and those moving to Brissie are seeking to buy, while property stock remains comparatively low.
Nationally, interest rate guessing games may be affecting buyer attitudes – an expected drop, that has yet to eventuate, may have fuelled ongoing buying activity.
Speaking of interest rates. Just what are the experts thinking they’ll do next?
“The market remains resilient despite higher interest rates, which now look likely to persist for longer than first expected,” reports PropTrack.
“Just a few months ago it seemed likely that interest rates would be cut later this year, and while rate cuts remain more likely than increases, the expectation is that these cuts will not commence until the first half of 2025.”
So, that means we’re hanging on to higher rates for a bit longer than we’d hoped, but hopefully things won’t get worse before they get better.
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