"When it comes to investing we need to anticipate where the ball is going."
BRISBANE median house prices are tipped to grow 15 per cent over the next three years according to economic forecaster BIS Shrapnel, reversing an anaemic property performance in recent times.
The latest BIS Shrapnel residential property report predicted only the Perth and Sydney markets would have higher growth by 2014.
Senior project manager Angie Zigomanis said median house prices had dropped in the past two years in Brisbane.
"With new dwelling construction currently lower than post-GFC (global financial crisis) levels, a rising deficiency is expected to emerge and this will underpin tighter vacancy rates and rental growth," Mr. Zigomanis said. "In turn, this will assist price growth as the economy begins to recover and prices in Brisbane are forecast to rise by 15 per cent over the three years to 2014."
He said Brisbane's residential market had been the weakest of the state capitals, with median house prices down about 4 per cent for the year already.
Mr. Zigomanis said with the next round of investment in new resource projects expected to begin soon, economic conditions should repidly improve.
This would result in more employment and income growth, which he believed would improve the confidence of buyers in the market.
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