Brisbane Real Estate: Is now the time to buy?


Brisbane real estate Housing Market Ryan Barabas

The question for everyone in the market to buy a house “Is now the time to buy in the Brisbane real estate market?”

I love sharing my expertise with the LGBTQI+ community. We are proud and strong. But sometimes I see a hesitancy to jump into some of the mainstream activities open to the rest of the population. We’re gaining traction in sports, media etc. but some of us are still gun-shy.  However, Real Estate is proving to be an excellent industry and very supportive of our community.

Did you know that gay men are highly represented across Real Estate Sales roles Australia-wide?

About the current market and the question, ‘Is now the time to buy?’

The Brisbane real estate market has historically remained steadily on the upward move. It rarely stagnates and never goes backwards. Regardless of the recent Covid increases and
indicators in other states, Brisbane residential real estate continues to grow. Brisbane is a great city with a growing population, excellent lifestyle and a lot to offer investors and homeowners alike. The answer to the question then, as always, is NOW.

The real estate market in Brisbane is currently experiencing strong growth. Property prices have risen exponentially in the past two years. Interest rates are rising and will continue to do so. The Reserve Bank of Australia is discussing up to 2.5% by December 2024. Other experts suggest a return to around 5-6% which is generally where interest rates settled in the past. This will definitely affect repayments and for investors or homeowners that have overextended to utilise the low rates or perhaps not invested wisely, they may come across challenges.

Real Estate bubble?

Prices are still relatively affordable, and you’re likely to see a good return on your investment in the years to come. There are murmurs about a ‘real estate bubble’ and a coming crash, but remember, real estate is a long-term investment. Markets always experience fluctuations and good investors allow for the ability to ride out the ebbs and flows, as overall, the assets will always appreciate. In saying this, you must always be aware of your financial situation and if you have any concerns about the level of your risks, you can always seek advice and restructure your portfolio.

With the Brisbane market slightly different to other Australian capitals, it has remained largely unaffected so far. Prices will always continue to rise, but interest rates are rising faster, so it is my advice that the best time to buy is NOW, lock in a low-interest rate while you can and start building your equity.

I’ve previously written about potential barriers to the LGBTQI+ community entering the real estate market previously. I can’t stress strongly enough how this market is for absolutely everybody and how we can look at different ways to ensure your comfort while inspecting and negotiating for properties. It is always a sound addition to any investment portfolio and necessary investment for your personal housing security. I would love to talk about your real estate investment plans and how I can help you into the home of your dreams!

Ryan Barabas

Contact me today to discuss the Brisbane property market and explore your property investment options.

Ryan Barabas of Elever Property Group is a leading professional in the Brisbane Property Market.

For assistance with any matters regarding your property, do not hesitate to contact Ryan on 0439 715 742.

 

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