Affordability for Brisbane property has increased, opening itself up for both home buyers and potential investors to take the next step towards achieving their Bulimba real estate dreams.
According to the recent BIS Shrapnel report, Residential Property Prospects 2013 to 2016, the estimated median house price, which is sitting at $440,000 in June 2013, remains four per cent below its peak in June 2010, and 11 per cent below in real terms.
This coupled with the lower interest rates due to the Reserve Banks of Australia's decision to leave the cash rate at 2.75 per cent, helps to make the property market available for anyone looking to purchase property.
BIS Shrapnel senior manager and study author, Angie Zigomanis, said that these factors are eventually expected to increase in the residential market.
"As a result, we should start to see a return of price growth in 2013/14, which will accelerate into 2014/15 and remain solid in 2015/16 as more first home buyers and investors start buying," Mr Zigomanis said.
If you're an investor looking for your next property, or a family looking for houses for sale in Bulimba, get in contact with the team at Ray White Bulimba. Their expertise will help you to find the perfect property to satisfy all of your retail needs!