We usually start with a quote and “no crash – people are just storing their nuts for winter – and missing out on great buying opportunities”; which comes from one of our investor subscribers; and sums up the current local market situation quite well.
Brisbane is at the bottom of the cycle and is set to improve. Three things drive a property cycle north – confidence, supply/demand and jobs. Confidence is on the mend, the Brisbane new housing market remains undersupplied and a plethora of new resource and infrastructure projects will help drive future job growth.
Vacancy rates remain tight and rents are now growing well above inflation. This will drive prices upward in coming years. Sales are finally starting to improve too, albeit from a low-base.
Despite these fundamentals, selling new residential property remains a difficult task; even well-priced, positioned and designed product is still difficult to shift.
The more frugal market isn’t responding to the current sales messages, nor the more traditional vehicles that deliver them. A new approach – or at least a refresh – is needed.