We presented the first inspection of the stunning ‘Edwyn’ at 72 Duke Street in Toowong over the weekend. The attendance was overwhelming with thirty-five separate parties and a couple of zoom inspections for overseas expats wanting to move home to the sunshine state.

The feedback from the attendees spoke in volumes to the lack of premium stock on the market which is feeding competition in that bracket and ultimately pushing the prices for what little stock there is up. One couple I spoke to had been looking for their forever home for the last 18 months, another 12 months and another local Toowong family for 5 years! What is also evident is that that people are willing to wait and pay a premium for an exceptional property to come along if it means they’ll have their dream home.

Marry-up lack of stock with heating interest from the southern metros and expats, sustained government fiscal COVID support and low interest rates and you suddenly have a very appealing investment market too. Westpac’s economists have suggested the property market will see the ultimate brunt of the recession in mid 2021 but they expect Brisbane values to increase by 20% over the next 2-3 years! That’s exceptional growth for a market that’s been hovering at the bottom of its cycle for the last 12 years.

This news has me excited!

If you’re currently interested in buying premium property in Brisbane don’t be scared to pay a premium to secure it. Sure, you might find the deal of the century in this market but It’s unlikely. Instead look to the future, if Westpac economists are as smart as they should be, you’ll make 20% in the next 2-3 years on that property.

It’s exciting times for Brisbane and I’m sure glad to be an investor and an agent in this market right now.