Saturday, May 30, 2009

Market Commentary for Brisbane

"Property prices in the sub-$520,000 market are continuing to attract high levels of interest from first homebuyers keen to secure their expanded First Home Owner Grant, according to Meighan Hetherington from Property Pursuit.

She says any slowdown in activity in this price range as the First Home Owner Boost phases out should be replaced by the return of investors.

“Rental vacancy rates remain under 1.7 per cent in many metropolitan suburbs and gross rental yields on recent purchases have lifted to 4.5 per cent in some locations for freehold houses and above 5 per cent for units and townhouses,” Hetherington says.

“Good buying opportunities also still exist in the $1 million plus price range as purchasers are still hanging back and waiting for others to lead the way.”

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