Queensland will see investors returning to the market after a year of waiting on the sidelines, according to an independent property advisory firm.
The December Matusik Snapshot house price update from Matusik Property Insights forecasts that Queenslanders will soon start buying again as housing becomes more affordable.
“The vacancy rate across much of the state is tightening and rents are rising. New rental listings are down 5 per cent across the state (on this time last year) and have fallen 11 per cent in Brisbane,” the report said.
Matusik Property Insights predict that prices will stabilize over the next six months to a year, as new sales listings are down 20 per cent across Queensland, and 29 per cent in Brisbane.
“We also believe that Brisbane is at the bottom of the cycle and barring a catastrophe, the Queensland market will show remarkable improvement in 2012.”
Brisbane has seen a 10 per cent drop in dwelling value since last year, compared with a 4 per cent nationwide average.