The national residential property rental vacancy rates sat at a 10 year low of 1.6%. Brisbane’s vacancy rates remained at 1.4%.
Over the month to 28 November 2021, Brisbane’s asking rents rose 1.2% for houses and units rose by 1%.
Over the past 2 years, Australia has seen immense growth in property prices. SQM Research predicts that this is all going to change in 2022.
The team at SQM predict that during the first half of 2022 Australian capital city residential property prices will see a peak. However, there is likely to be a sudden slowing in price growth as soon as mid-2022 primarily due to the anticipated intervention from the banking regulator. Further interventions will be made to limit home lending, according to the Housing Boom and Bust Report 2022, released by SWM Research.
It is expected that Brisbane will experience the greatest growth in prices over 2022 at an 8% to 14% increase.
Please see Matusik: Residential Property Clock – Nov 2021
The Urban Developer’s latest Brisbane housing market insights also reveals that the city’s house prices is on track to outperform all other Australian capitals during the next 12 months.
Residential listings are set to pile up when the housing market reopens in January with a surge in the number of homeowners looking to sell before prices peak.
Requests for appraisals have jumped by 19 per cent in Brisbane indicating that a large number of potential vendors are looking to enter the market in the new year.
Olympics to push Brisbane market’s limits
Brisbane house prices could more than double by the time the 2032 Olympic Games roll around, taking median home values above $1.4 million, economists predict.
The growth rate would be consistent with the market’s past performance during the G20 summit in 2014 in Brisbane, when dwelling prices surged 112.7 per cent over 12 years from when the event was announced in 2003 to 2015, a year after it was held.
Sources: https://www.propertyme.com.au/blog/industry-news/november-market-update-2021
https://www.theurbandeveloper.com/articles/brisbane-housing-market-update
