PROPERTY MARKET ON MOVE

Source: Real Estate Talk

“SEQ Property being boosted by strong interstate migration”, says Arnolds Director.

PROPERTY MARKET ON MOVE

Interstate migration is boosting prices at the top end of Brisbane housing market, but it is not just million dollar properties that are seeing a positive impact.

That is according to the latest Herron Todd White Month in Review report, which found that all price points were reaping the rewards from ‘’out of towners’’ moving to Brisbane from the more expensive capitals of Sydney and Melbourne. And it would seem that more of those interstate movers are now staying in Brisbane  rather than being tempted to the Gold or SUNSHINE Coast.

‘’This tide of new residents heading coastward is turning somewhat as more choose to stay in Brisbane and enjoy its growing cosmopolitan lifestyle attractions,’’ the report said.

‘’The NIM (net interstate migration) has been steadily rising from 15,000 in 2016 to just under 24,000 in 2018. The next lot of results in 2019 are expected to be even higher.’’ Property data firm CoreLogic will also reveal today that Brisbane recorded median price growth of 0.1  per cent during August.

‘’There has been positive growth in Brisbane and it looks like it will be positive again,’’ CoreLogic research analyst Cameron Kusher said ahead of the release of the August hedonic home value index today. It marks the second increase in values In two months, after Brisbane recorded a small rise of 0.1 per cent in July – the first monthly rise since November last year.

The HTW report said affordability in the local prestige market, when compared with Sydney and Melbourne, was an attractive prospect for people looking to make the move north.

Samantha Healy

REAL ESTATE EDITOR

Gold Coast Bulletin