Owners of Bulimba real estate and savvy investors will be interested to know that the RP Data – Rismark Value Index released on April 1 has shown confidence in the Brisbane property market.
During March this year, house values in Brisbane rose 2.9 per cent. This has resulted in a 4.8 per cent increase over the last year.
Although values rose, Brisbane remains one of the more affordable capital cities in the country. With median house prices, sitting at $435,000, this is considerably lower than Melbourne and Sydney, which were recorded at $515,000 and $630,000 respectively.
“It shows that investors and owner-occupiers see a lot of upside in Brisbane real estate, which remains considerably more affordable than both Sydney and Melbourne,” said Real Estate Institute of Queensland CEO Anton Kardash in a April 1 statement.
Investors should also be aware that purchasing houses for sale in Bulimba could be a sensible option. Brisbane recorded one of the strongest rental yields in the country and RP Data’s Tim Lawless concluded that “Brisbane is likely to be the market to watch”.
Anyone interested in taking advantage of this optimism in Brisbane property should contact a local real estate agent today.