You could be waiting a few years, depending on which crystal ball gazer you believe, but property commentators seem to converge on a few key points.
Brisbane units are close to the bottom of the market and with fewer units now in the development pipeline the oversupply will start to diminish.
REA Group chief economist Nerida Conisbee said low demand, high supply suburbs which had seen high levels of development were worth looking at, because they represented good buying now with growth potential in the coming years.
“These suburbs now have low levels of development in the pipeline, which means prices will probably pick up in the next three to four years,” she said.
So where can you nab the biggest bargain?
Eagle Farm units have dropped 35.4 per cent in the past year to reach a median price of $602,500, according to CoreLogic data published on news.com.au.
Bargain hunters should also head to McDowall and Holland Park where units dropped 25 per cent in the past year.
Overall, the Brisbane unit market fell 4 per cent last quarter but is still in positive territory having grown 11.3 per cent over the past five years, says the Real Estate Institute of Queensland.
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