Buying Property in Australia in Brisbane

The Australian property market in Brisbane has a lot to offer expatriates and real estate investors alike

As the property markets in New Zealand and America cool, Australians are experiencing a boom of sorts.  Values and sales of residential real estate in Australia are on the rise in many locations once again after cooling and then regaining ground over the past year.  For expatriates and investors alike, the Australian property market is definitely appealing as the climate and culture of this region make it ideal for tourism and relocation.

If you’re dreaming of buying property in Australia, a look at Brisbane might be in order.  The country’s third largest city is facing a boom of its own, but prices are still quite reasonable and this is especially the case when compared with property purchase prices in New Zealand or the UK for example.

Brisbane is located in Queensland’s southeastern corner - the city is graced with the Brisbane River and also touches Moreton Bay.  The landscape includes many large hills, including Stephens Mountain and Mount Gravatt, and a climate that is certainly appealing by British standards!  Temperatures here are considered subtropical in nature which means Brisbane has hot, humid summers and very mild winters.

The city of Brisbane in Australia itself is in a flood plain which means buyers will need to be concerned with flood insurance!  A major flood has not taken place since the 1970s, but higher ground within Brisbane is likely more desirable to buyers who are concerned about this possibility.

Compared to British cities and towns, Brisbane is a very new urban development.  The city’s roots were not planted until the 1800s when it started as a penal colony and the city was not incorporated until 1902. 

Today, property buyers and visitors as well will find a modernised landscape dotted with high rises and a bustling atmosphere.  More than 1.7 million people call the Brisbane area home including a whole host of international expatriates.  There are strong employment prospects in the city which means affordability is not currently an issue and there remains sustainable demand for housing as well – all plus points for an investor looking at real estate in Australia.

Within Brisbane real estate buyers will find there are scores of things to do.  The waters that surround the city are famous for their diving, fishing and swimming opportunities and the city is also noted for its golfing possibilities, restaurants, parks and other attractions for example.  All of these aspects appeal especially to an investor considering the long term desirability of his property assets

Buying property right in the heart of Australia’s Brisbane does tend to get a little costly though.  Prices within Australia as a whole are on the upswing and the larger the city and the closer to the city centre you venture, the higher the real estate prices.

The first seven months of 2007 saw a 7.7% increase in property prices in Australia according to the RP Data-Riskmark Hedonic Index.  Brisbane is not the country’s most expensive market though - as the median prices in Sydney come in around AUD 561,000 on average, Brisbane buyers will find prices more in the AUD 424,000 average range.

It is possible to find single family homes at relatively reasonable prices in Brisbane.  There are plenty of resale homes in the AUD 200,000 to AUD 300,000 range within the city’s many suburbs.  If being close to the beach appeals, do expect to pay a great deal more though!

As property markets in other popular investment and relocation destinations take nose dives, Australia’s star is on the rise.  If you’re looking to take advantage of all this country has to offer, Brisbane is one market that offers a lot of possibility.