Brisbane Property Hot Spots in 2022
Brisbane’s property market has gone from strength to strength, with skyrocketing property prices and high rental demand leading to rising rents and high rental yields for investors.
We take a look at some of Brisbane’s booming property hot spots.
If you are hoping to buy an investment property in 2022, or add to your existing portfolio, Brisbane is a strong bet. Rents have soared to record highs against a backdrop of high demand and low vacancy rates, making it the strongest landlord market in a decade.
Why Brisbane is a landlord’s market
Domestic migration in Australia is at a level not seen since the ABS began measuring it in 2001, and it is Queensland that has benefited the most. The spike in migration to Queensland has driven Brisbane’s vacancy rates down, with Real Estate Institute of Queensland (REIQ) data showing that 22 out of 35 LGAs have recorded their lowest vacancy rate or equalled it over the last 11 years.
Brisbane rents are going up, up, up
According to domain.com.au, Brisbane rents have soared to record highs. CoreLogic’s ‘Best of the Best’ report, published in December 2021, showed that suburbs across the city had recorded annual rent increases of 10-20% for both houses and units.
Bellbowrie in Brisbane’s West recorded the biggest 12-month change in house rents in the city (+20.1%) while rents for units increased by 10% or more in Wynnum West and Wynnum, Tingalpa (+12%), New Farm in the inner city (+11.6%), and Lawnton and Petrie in the south (both +11%).
Cash in on capital growth
If you already own an investment property in Brisbane but are looking to sell, now could be a good time to lock in those capital gains. Point Lookout in Brisbane’s east recorded the highest 12-month change in median price values for units in capital cities Australia-wide, up a whopping 44.2%.
Price growth city-wide was strong in 2021 for both houses and units. Hawthorn house prices ranked in the top 10 suburbs in Greater Brisbane for the highest 12-month change, with median house values up 38.5%. Other suburbs that saw the highest 12-month change in values for house prices were Indooroopilly (up 41.8%), and Newmarket and Teneriffe in the inner city (both up 40.5%).
Prine growth for units over the year was strongest in Brisbane’s eastern suburbs. However, Camp Hill in Brisbane’s south was also a standout, seeing the growth of 22.3% to bring median unit prices in the suburb up to nearly $565,000.