3 minute read...
This time last year I was coming off the back of my Christmas holiday and ready to get into a new year. Difference being, I wasn’t half as busy as I am this year.
Seemingly, the Brisbane property market has powered through the December / January 2018 period and word on the street amongst my agent network is that it doesn’t seem to be slowing down anytime soon.
Packed open homes and multi-offers are still the norm and even some units are nabbing the attention of investors despite Brisbane being hit with the unit ugly stick all throughout last year.
Could the tide be beginning to turn in the apartment market?
The media tells us that Brisbane is oversupplied with apartments and I’ve been singing a similar story but from what I’m hearing now, there are certainly some units around town that aren’t staying on the market for long.
Whenever I’ve had a busy start to a year, or the merger of the end of the last and beginning of the new has felt like I never stopped for an end of year break, it’s often a sign that the property market is off to a good start and we could see some growth in the coming months.
BUT I REITERATE THAT WORD, COULD.
No one can ever be sure what is going to happen in a market, and all we can do as investors is read the signs, understand what drives capital growth, and take action with our gut feelings in check.
Yeah I know the “experts” will call me out for being wishy washy here, but I honestly believe that is all one can really do.
But aside from this, one thing I know for certain in my 20 years playing this real estate game, is that I’ve never seen a major Australian capital city property market fall on it’s ass completely.
If you bought within the 10km radius of Brisbane CBD 20 years ago, I dare say you’ve seen growth. If you bought well and held onto that investment, you’ve likely more than doubled your money… and the rest.