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Brisbane 2024 Forecast

  • After booming through 2020 and 2021 with prices rising by 45.3%, Brisbane housing values fell -8.9% from their peak in May 2022 through to the recent trough in January 2023. But the Brisbane housing market has clearly turned the corner in early 2023 with prices rising consistently – now up 13.1% since January 2023

 

  • In fact in Brisbane, house prices in nearly three out of four suburbs rose by 10 per cent or higher in 2023, And there are many signs that Brisbane will be one of the strongest housing markets in 2024 with firm indications that Brisbane property values and rents will keep rising strongly in 2024.

 

  • Hosting the 2032 Olympics will ensure that Brisbane is put on the global map and it has a unique lifestyle and economic benefits that will attract overseas migrants as well as plentiful jobs for highly paid knowledge workers.

 

  • Federal government forecasts suggest that Queensland’s population is expected to grow by more than 16 per cent by the time Brisbane hosts the Olympic Games in 2032.

 

  • So rather than trying to time your next property purchase based on where we are in the cycle, take a long view and if your income is secure and the time is right for you, this may be an ideal time to get a foothold in the Brisbane property market while others are sitting on the sidelines.
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