And That's (Almost) A Wrap | Brisbane’s Property Market in 2024: What You Need to Know and Why It Matters!

Brisbane’s property market has kept its momentum after a spectacular 2023, remaining one of Australia’s top-performing cities with rising property values. This sets the stage for even more success in 2025 -  but what does this really mean for buyers, investors and homeowners?

Since the pandemic, Brisbane has become an increasingly attractive destination for buyers. The city’s growth isn’t confined to the inner suburbs—it has expanded across the South-East Queensland corridor, stretching from the Gold Coast and Sunshine Coast to Gympie, Fraser Coast and regional hubs like Bundaberg, Townsville and Cairns. Even areas like Toowoomba and Warwick have benefitted from the wider ripple effect. This spread of growth has led to impressive price increases across the Brisbane property market.

What’s Happening Right Now?

Spring 2024 saw more properties hitting the market, offering buyers greater choice and giving the market a slight cooling effect in certain areas. However, buyers shouldn't let this fool them into thinking the market is losing steam as Brisbane’s property values are still climbing— up by 10-12% compared to this time last year.

So, while you may see slower turnover in some pockets, Brisbane’s housing market is still thriving. In fact, many savvy buyers and strategic investors are focusing their efforts on gentrifying suburbs, where the potential for price growth remains strong. But what exactly does "gentrification" mean and why should you care?

What is Gentrification?

Gentrification refers to the process in which a traditionally lower-income neighbourhood experiences an influx of wealthier or middle-class residents who renovate and rebuild homes and businesses increasing and improving social amenities such as cafes, restaurants and shops and otherwise attracting investment and development opportunities. This can lead to rising property prices, improved infrastructure and enhanced amenities. While this can be a sign of economic growth, it often results in the displacement of lower-income residents.

Gentrifying areas typically see higher returns on investment as properties become more desirable due to their proximity to well-developed infrastructure, transport and amenities. As a result of the gentrification process in many Inner-ring and middle-ring suburbs over the course of the last 5-10 years we are seeing the most substantial growth in Brisbane, with an expectation that they will continue outperforming the cheaper outlying suburbs.

What About Affordability?

Once interest rates drop (The New Daily recently cited the RBA saying 'it will soon be able to start cutting interest rates, assuming data continues falling in its favour..'), housing affordability may still be a challenge for many buyers.

If you’re a potential buyer, it could mean that you’ll need to adjust your expectations around features or perhaps explore less expensive suburbs or different types of properties - however, for those willing to act strategically, there are still opportunities to be had.

Key Stats You Should Know:

• Brisbane’s property values increased by 10-12% compared to last year.
  
  
• The city remains the most profitable in Australia for resold homes.
  
  
• 99.4% of resold homes in the last quarter made a profit.
  
  
• Gentrifying suburbs are still seeing strong price growth.
  
  

What Are Your Thoughts on Brisbane's Housing Market?

• Do you see a significant shift happening or is the change more subtle in your area?
  
  
• Are you thinking about buying or investing in Brisbane? If so, would you care to share where and what is drawing you there?

If you're a buyer, now’s the time to understand the market and perhaps be open to the idea of adjusting your expectations.

Are you a frustrated buyer who is struggling with the whole buying process? 

Have you considered using the services of a buyer's agent who can mitigate much of your frustrations and source properties otherwise not available to the general public?

For investors, gentrifying suburbs could offer great opportunities

Do you know how to identify a gentrifying suburb, or one which is still in the early stages of starting or undergoing the gentrification process, thereby affording you the most leverage in terms of your potential to maximise your return on investment.

Homeowners and future sellers, don’t wait to capitalise on rising property values.

Whether you’re looking to buy, sell or invest, understanding these trends and taking the right steps now can help you make smarter, more informed decisions about your property journey.

Let’s keep the conversation going—share your thoughts or get in touch to discuss your plans!