Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Land shortage to drive up prices

By Vivienne Kelly & Stefanie Garber
04 November 2014 | 1 minute read

A Brisbane suburb could be set to boom with quality stock in short supply and investors looking to capitalise on growing demand.

Advertisement
Advertisement

New Farm in Queensland could see impressive growth in the next 12 months, according to Scott McGeever, managing partner of Property Searchers, as the Brisbane market continues to recover.

“Over the past six to nine months we have seen the market in Brisbane come back to life, with stronger demand and supply remaining low,” Mr McGeever told Real Estate Business' sister publication, Smart Property Investment.

“We have seen older, established areas come back the best and these will also be the areas that hold their value when the market slows again.”

Mr McGeever said New Farm was one of these areas, where a two-bedroom, two-bathroom apartment could still be purchased for under $600,000. He said while the area remains relatively affordable, prices look set to climb.

"This area has been strong because of the lack of available land to develop. It is also well serviced with amenities, parks and transport, while being a convenient distance to the Brisbane CBD,” he said.

Mr McGeever said he expects demand will remain strong, which combined with a low supply of quality stock, would continue to drive prices north in the future.

Land shortage to drive up prices
housing
lawyersweekly logo

Tags:

ABOUT THE AUTHOR


Listen to other installment of the Real Estate Business Podcast
Do you have an industry update?

top suburbs

12 month growth
Travancore
49.78%
Timboon
49.57%
Dolphin Point
49.51%
Nyah West
49.42%
Preston Beach
49.29%
Newington
48.97%
Killcare Heights
48.89%
Wundowie
48.77%
Homebush
48.44%
Glenside
48.28%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.