Brisbane Market Outlook
Position Property Director Richard Lawrence discusses current trends in Brisbane’s property market
and shares his predictions for 2022 and beyond.
Whether you’re looking to buy your first home, move closer to the city or rightsize to a new
property, you’ve likely experienced the accelerated pace of Brisbane’s property market.
Fuelled by interstate migration, record-low interest rates, and a shortage of new properties, homes
in Brisbane are in hot demand and the market is showing no signs of slowing down.
Position Property Director Richard Lawrence discusses current trends in the property market and
shares his predictions for 2022 and beyond.
Q: What have you been experiencing on the ground with buyers in Brisbane?
A: We’re seeing a lot of downsizers taking advantage of current market conditions by selling their
home and downsizing to a new home in the same area they know and love. Homeowners are often
surprised at how much growth their property has experienced and find they can now easily afford a
townhome or apartment in their local area or close to the city.
There have also been a lot of renters that are now buying in the same area they rent in. The low
interest rate is very attractive and with prices continuing to rise, renters don’t want to miss out on
securing a home in the area they love.
Q: What does the booming market mean for buyers looking for a home in desirable, inner and middle ring suburbs?
A: People are trying to stay within 10-15km of the city for lifestyle reasons, so prices for homes
within those suburbs are continuing to rise.
Buyers are recognising the value in securing a new townhome or apartment off-the-plan, locking in
today’s prices for a small deposit while still having time to save and prepare for settlement. That’s
the benefit of buying off the plan, especially in the current market. Downsizers are taking advantage
of the additional equity in the family house to purchase their new home, while first home buyers are
enjoying the extra time to save.
Q: In your opinion, what do you see happening in the ‘big picture’ of Brisbane property over the next decade?
A: This is a unique time for Brisbane. The property market is currently being driven by the lowest
interest rates in history and, with the COVID-19 pandemic shaking things up in unpredictable ways,
people are now spending more time at home than ever before. People are also seeking security in
their lives and more renters are opting for homeownership.
With Queensland’s borders reopening, Brisbane and Queensland will continue to experience a lot of
overseas and interstate migration. Apartment and townhome designs are always improving to cater
to owner occupiers and prices are very affordable compared with Sydney and Melbourne.
Sydney and Melbourne have had their time to shine. Now, it’s Brisbane’s turn.
Q: What are buyers looking for in terms of lifestyle?
A: Buyers are looking for properties that tick a broader range of design and lifestyle boxes – such as
world class amenity, larger format floor plan designs along with extras like butler’s pantries and
additional storage.
Local and interstate buyers recognise the value that Brisbane offers, both in terms of property prices
and lifestyle.
Brisbane offers great lifestyle benefits and a lot to be excited for, including the 2032 Olympics, the
upcoming delivery of major infrastructure and new lifestyle attractions such as Queen’s Wharf and
the new Victoria Park.
Q: What advice do you have for buyers who are trying to achieve ‘bang for buck’?
A: My advice is always to buy what you can afford in the suburb you want to live in. A lot of people
still want to live within 5km of the city but can’t afford most houses in those areas. Larger
apartments and townhomes offer a great alternative with the added benefit of all the amenity you
could want right in your backyard.
- Richard Lawrence, Position Property Director