Atlas Market Insights

What can we expect from the Brisbane property market in 2021? INSIGHTS - PROPERTY In a world of uncertainty brought upon us by a global pandemic, Australia’s property market continues to stand strong, in comparison to other markets around the world. The team at Atlas were fortunate enough to spend time with Tim Lawless , Head of Research for CoreLogic Asia Pacific , Australia’s leading property data provider, to discuss insights and trends he’s observing in the current property market. How is the Brisbane property market performing? Brisbane housing values are rising faster than most other capital cities. For example, in the last three months Brisbane housing values are up 2.5% compared to only a 1.6% rise in Sydney. Many factors flow into the stronger performance, the first and most simple being affordability. Brisbane house prices are on average, $440,000 less than in Sydney, or roughly half. Income gaps between the two cities are not as large as this figure, meaning that property is more affordable. Towards a demographic perspective, South East Queensland has been almost entirely insulated against a downturn in overseas migration, as it does not have as much exposure to overseas migrants as Sydney does. Further, the whole state of Queensland is benefiting from a positive rate of interstate migration, with more people arriving in Queensland than leaving. For comparison, this rate is negative in New South Wales. 6