It has been an interesting start to the year in South-East Queensland with different sectors of the market performing stronger than others and buyers becoming increasingly cautious; perhaps due to uncertainty surrounding potential new regulations, an upcoming federal election and the widespread media coverage of a softening Sydney market.  

Many property commentators agreed that Brisbane underperformed in 2015 with most markets not seeing the growth predicted, and although 2015 didn’t reach the heights many forecast, Q4 was by far the stand-out quarter for the year leaving a raft of property economists predicting this momentum would spill over into 2016. In my opinion we saw steady and sustainable growth throughout 2015, and we have seen this trend continue for the first part of 2016 with the sales and prices being achieved remaining steady.

Just like any other capital city there are many different markets operating in Brisbane and at the moment the inner-city apartment market is attracting national attention due to the amount of new projects having been, or about to be, completed. A concern that the Brisbane apartment market is currently oversupplied has become a common talking point amongst buyers across all markets. This combined with the timing of the current federal election campaign and the potential for changes in property regulation; I believe are the only factors that could slightly derail the continued steady and sustainable growth Brisbane has seen over the past couple of years. 

While the oversupply of inner-city apartments in Brisbane will continue to be a factor for the remainder of 2016, there are opportunities for buyers to purchase at a discounted price and reap the rewards if they are in a position to ride out the next few years. This could also be a huge opportunity for downsizers to secure an inner-city apartment at a discounted price now, only to move in at a future date. It is also important to remember that not all the inner-city apartments being built are the same and many of the larger two and three bedroom apartments are being snapped up not only due to their size but their location in areas such as West End, Tennerife and Newstead, where you get access to some of the best lifestyle Brisbane has to offer. 

Much like Brisbane, the Gold and Sunshine Coast property markets are experiencing better than expected growth in some sectors, yet less than expected in others. The price bracket performing best in these markets is between $400k and $800k with freestanding original homes in blue-chip suburbs such as Palm Beach, Southport, Maroochydore and Buderim the pick of the bunch. The added benefit the Gold Coast has is the upcoming Commonwealth Games in 2018, an increase in foreign investment and the continued construction of infrastructure projects that are making the area an attractive proposition to both local and interstate investors. 

Although we may be experiencing a softening market at the present, I believe that once we are past the federal election we can expect to see the continuation of the steady and sustainable growth we experienced in 2015 with boom conditions not looking likely, at least in the short-medium term.