Well, in short, my answer is yes, but it depends.
There are certainly areas that aren’t experiencing the over-supply problems and provided you’re buying in boutique complexes (not the high-rise type), then sure, there are suburbs which have done well in terms of average annual growth for units. And this goes for other areas around Australia too.
Paddington in Queensland is one of these, with an average annual growth rate of 4.70% for units. Rather than negative growth for the past two (2) years, Paddington units have experienced two years of positive growth.
To sum it up, it’s all about where you buy, and remember, investing in real estate doesn’t automatically make you wealthy.
It must be done strategically, or you risk doing your dough on a poor performing investment that won’t help you reach your goals.