Unfortunately, the news is not great for the Sydney or Melbourne property markets.

Sydney and Melbourne were the worst performing property markets in Australia last year with house prices falling 10% and 9% respectively.

The two largest capital cities in the country have dragged down national dwelling values 4.8 per cent over the year in the worst national result since the December quarter of 2008 according to Corelogic.

Sydney’s dwelling prices have fallen back to the same level in August 2016, before the peak of the real estate boom, while Melbourne’s prices are now at February 2017 levels.

Apartment prices dropped 8.9 per cent in the last 12 months in Sydney and 7 per cent in Melbourne.

The news is better in Brisbane in the areas and projects where we are recommending property for clients, which continues to offer great value, strong yields and low vacancy rates. In fact, we have a 100% occupancy rate across our portfolio of purchased properties.

We have been bullish on the Brisbane market for some time, and the story continues to get stronger while these other cities flounder. The Brisbane property market seems to be steadily gaining pace and the prime beneficiary of Sydney and Melbourne’s slowdown.

More families and downsizers from the southern cities are moving to South East Queensland to cash-in for a lifestyle in the sun and this has made Queensland Australia’s #1 destination for internal migration.

Brisbane is growing up, becoming more sophisticated and is enjoying huge spending in infrastructure which will improve amenity, mobility and accessibility around the city and surrounds.

Population is surging, and the overall feel of the city is one of being “on the move” which is incredibly exciting when you experience it for yourself.

For property investors looking for positive growth, stable rentals and low vacancy we can assist in identifying suitable property that is relevant and appropriate to your needs, criteria and circumstances.

Get in touch to find out more…