- A controversial land tax proposal was dropped by the state government
- Pete Wargent said BuyersBuyers' top suburb list includes a range of middle-ring suburbs where buyers can have the upper hand in negotiations
- Population growth from overseas migration has picked up
Following the shelving of a controversial land tax, southeast Queensland is back on the radar of property investors, said Pete Wargent, co-founder of national buyers agency BuyersBuyers.
Mr Wargent noted that it has been a highly uncertain period for prospective buyers in Queensland property across both the residential and commercial space, with many putting their plans on hold or looked to invest elsewhere in the country.
“South-east Queensland is usually the most popular choice for interstate investors, and now we expect that to continue, which should help to take some of the pressure off extremely tight rental markets.”
Pete Wargent, BuyersBuyers
“In Brisbane, overall buyer sentiment is significantly cooler than it was a year ago, and there is no scope to negotiate much more forcefully on price and terms for investment grade properties,” Mr Wargent said.
Doron Peleg, BuyersBuyers CEO, noted that there are a range of emerging opportunities for investors across Brisbane.
Mr Peleg said using their Where to Buy property market research tool, the team has found the top 10 suburb picks for Brisbane for investors looking to buy a house, with budgets ranging from $700,000 to $1,200,000.
“It’s important to note that there are always properties worth considering well below the suburb’s median price,” he said.
Top 10 suburbs for Brisbane investors
| Suburb | Region | Postcode | Property Type | No. of Properties | Median Price ($) |
| Kenmore | Brisbane North | 4069 | House | 3,388 | $1,187,791 |
| Boondall | Brisbane North | 4034 | House | 3,171 | $862,834 |
| Mt. Gravatt East | Brisbane South | 4122 | House | 3,488 | $1,142,593 |
| Brighton | Brisbane North | 4017 | House | 3,575 | $1,000,783 |
| Runcorn | Brisbane South | 4113 | House | 3,674 | $880,313 |
| Aspley | Brisbane North | 4034 | House | 3,995 | $1,041,505 |
| Calamvale | Brisbane South | 4116 | House | 4,229 | $1,080,857 |
| Sunnybank Hills | SW Brisbane | 4109 | House | 5,306 | $1,061,121 |
| Bracken Ridge | Brisbane North | 4017 | House | 5,721 | $878,063 |
| The Gap | NW Brisbane | 4061 | House | 5,854 | $1,192,154 |
Source – BuyersBuyers
“Borrowing capacity has fallen for many borrowers this year, and this is pushing some buyers down into lower price brackets than they might have previously looked it, driving an increased interest in townhouses and units in Brisbane,” he said.
“Generally speaking, though, detached homes are the property of choice for buyers in Brisbane with the requisite budget.”
Current trends and popular buys in Brisbane
Mr Wargent said their top suburb list includes a range of middle-ring suburbs where buyers can have the upper hand in negotiations.
“Vacancy rates are low in the suburbs we have highlighted, and there is very little risk of oversupply in most landlocked areas in Brisbane, as population growth from overseas migration picks up rapidly,” he said.
SQM Research shows how tight the rental market is in Brisbane.
Brisbane
[Select part of the chart to zoom in on various years, and ‘reset zoom’ button to return]
“The Brisbane market has been a strong performer in recent years, but it’s in a bit of a downturn phase at the moment. To generate a strong result over the next decade out to the Brisbane Olympics in 2032 it will be very important to buy the right property, and at the right price.”
