The property market in inner-city Brisbane is about to heat up, according to Propell Buyers Advocates national manager James Freudigmann.
With a third of properties on the market under contract and a third of remaining properties going to auction, housing supply in the city is limited and will eventually result in an increase in prices, Mr Freudigmann said.
Suburbs seeing these changes are within five to seven kilometres of Brisbane’s CBD, including Toowong and St.Lucia, Balmoral, Ascot, Wooloowin, Kangaroo Point and Woolloongabba, and many more.
Mr Freudigmann said to keep in mind that houses under the $600,000 price point were included in this trend, a section of the market that is in demand for both investors and owner occupiers.
“Media often talk about the Brisbane market having too many listings and properties taking a long time to sell,” he said.
“A majority of market information is based on Brisbane as a whole, which encompasses a very large area and includes all market segments. The inner-city market operates differently to a majority of the Brisbane market.”