Brisbane has recorded its biggest rent rise in three years, according to CoreLogic data reported by news.com.au.
House rents increased 2.4 per cent in 2018 while unit rents increased 2.6 per cent, and Realestate.com.au chief economist Nerida Conisbee expects rents to continue upwards.
“Now is actually a good time to look to buy because we are looking to see further increases in rental levels,” Ms Conisbee said.
“The reason being we have fewer new developments going ahead and also fewer investors in the market.”
So if you are in a position to transition from tenant to home owner, what can you expect? Experts’ crystal ball predictions of property growth for 2019 are varied, but most are forecasting a continued steady pace for Brisbane houses. Of course Brisbane is not one homogenous market and it’s important to understand what supply and demand are doing where you want to live. Earlier this month we reported #29 suburbs set to sizzle based on increasing sales volumes. And the unit market could still offer a chance to pick up a bargain as it recovers from some years of oversupply.
If 2019 is your year to stop renting and jump on to the property ladder, contact us for a chat or view our current listings for sale.