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Queensland market works in buyers’ favour

The national property market is forever changing and shifting in the favour of buyers and sellers – and it’s purchasers who are reaping the benefits at the moment.

The Commonwealth Bank/RP Data Home Buyers Index for August shows how market conditions are helping buyers enter the market, indicating now is a good time to purchase Morningside real estate.

Alongside the Northern Territory, Tasmania and Western Australia, Queensland is one area that buyers should feel at ease in at the moment.

Lyn Cobley, executive general manager at Commonwealth Bank, said: “Prospective home buyers in these states should search for properties offering the best value for money in relation to their individual property requirements.”

Brisbane’s outer suburbs have been highlighted as potential locations for purchasers to find great opportunities at present, as stock levels and prices work in their favour.

This follows the release of the September quarter NAB Residential Property Index, which predicts above average property price growth in Queensland over the next 12 months.

Prices in the city are forecast to gain 5.9 per cent, which is notably higher than the national average of 4 per cent.

Furthermore, prices are forecast to expand 3.5 per cent between September 2015 and 2016, outstripping the 2 per cent national average.

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