Dear Elk Member,

Brisbane house values predicted to rise more rapidly than Sydney or Melbourne.

Even so, the Sunshine Coast and Gold Coast regions are expected to outpace Greater Brisbane over this time, with the Games also contributing to boosting the profile of Gold Coast’s northern suburbs.

In the last 12 months, we have seen Sunshine Coast house prices rise by almost 25 per cent, and Gold Coast house prices rise by 22 per cent. Considering the impressive market that we are experiencing right now, Southeast QLD is set to soar on the lead up to the Games.

Sunshine Coast residential property rent rises were the fifth highest in Australia over the last financial year.

Sunshine Coast’s median rent value grew by 17.8% to $621 in the year to June, only behind rent rises in South-East Tasmania, Darwin, Mandurah and the Richmond-Tweed local government area.

Rents set to rocket in Brisbane

There is a warning of a rental squeeze in Brisbane. Rents for standard Brisbane houses may increase by as much as $5000 per annum by the end of the 2022 calendar year.

At the end of June 2021, there were only 4520 residential dwellings advertised across Greater Brisbane. That is a massive reduction from 9222 dwellings five years’ earlier when 230,000 fewer people lived in Brisbane. Gold Coast rents were up 13.8% to $600.

2032 Olympics to Triple Brisbane’s Median House Price to $1.7M

The current median house price sits at $674,738. 

While the Olympics is still 11 years away, past international events the city hosted could give a glimpse as to what could happen.

There were differences in the pace of property growth in past events, but even going at “half-strength” would still see the median house price reach $1.2 million by 2033. 

Property value to reach $9 Trillion

Australia’s residential property market is tipped to be worth $9 trillion later this year, thanks to skyrocketing house prices and an ongoing construction boom.

At the moment, residential real estate is worth a staggering $8.8 trillion dollars. That’s worth more than Australian superannuation ($3.1 trillion), the Australian stock market ($2.8 trillion) and commercial real estate ($978 billion) combined.

Continued good financial management,

Ian Kebblewhite
Coach
elk

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