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Property price growth likely to continue

Cashing in on real estate in Bulimba sooner rather than later could be a wise move, especially as experts predict further increases for Brisbane property prices.

The September quarter NAB Residential Property Index identifies the Queensland capital as one area set to experience above average growth over the coming year.

During the 12 months to September 2015, property prices are expected to gain 5.9 per cent in the city, outstripping the national average of 4 per cent.

This will continue well into 2016 as well, as the bank forecasts growth of 3.5 per cent in Brisbane while the national average remains at just 2 per cent.

Another feature that’s appeared in the national market over recent months is the presence of foreign buyers, which NAB believes will only increase.

Chief economist at the bank Alan Oster said: “Foreign buyers accounted for 16.8 per cent of total demand for new property in quarter three, or about one in six of all buyers, with this share tipped to rise to 17.3 per cent over the next year.”

If you’ve got your sights set on moving to Brisbane, make sure you speak to the team at Ray White Bulimba to weigh up your options.

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