Covid-19 has sparked a significant level of enquiry into the Brisbane housing market from ex-patriates looking to return home to the safer borders of Australia, however after being out of the country for a number of years, has the market changed and what has happened to the dynamics of the market in the current constantly changing environment?
While the safety of your family is the most important factor with the move back to Brisbane, before buying, it pays to do some thorough due diligence and potentially even engage a local expert to assist in finding the right opportunity. There has been quite a shift in not only market sentiment, but stock levels and values as well, depending on the area and market sector. The Brisbane prestige property market, which is considered to be housing valued in excess of $1,500,000, has about 4 or 5 speeds at the date of writing this article depending on the suburbs that you look in. Listings of houses in the inner city suburbs of Brisbane are down by more than 50% from pre-Covid levels and have been that way for almost 3 months with no sign of improvement any time soon.
If you are an expat relocating to Brisbane and looking to buy your home before returning, or upon your return, then ensure that you have considered factors including flights paths (right now, there are very few planes in the sky so it is important to check the flight path maps with the new runways to ensure you won’t suffer from significant noise), underground pipes, neighbouring development approvals, school catchment zones and changes to the transport infrastructure. These are just a few of the investigations to consider from a macro perspective, and if the property meets these criteria, then the more emotive drivers including the warmth of the home, natural light, aspect, room sizes, flow, etc.. can then be considered.
Part of PMC’s Brisbane buyers agency service includes 13 due diligence investigations to ensure the property is going to be a quality long term home, and we also include a 360 degree video walk through of the inside and outside of the property as well as the surrounding houses, giving you an instant feel for the street presence, the internal size and flow and whether the property is one that you can see your family relocating to and spending the foreseeable future in.
If you would like to speak with PMC to better understand how PMC assists our clients with their property investment journeys, please contact James Freudigmann, our Brisbane Director directly on firstname.lastname@example.org or send an email to email@example.com. Alternatively I can be contacted on 0435 807 759.
Alternatively please complete the enquiry form on our Contact page and we will be in touch to see if we can assist with your relocation plans.