New research from property data firm CoreLogic has indicated that Brisbane is leading the nation on most property performance indicators.
The latest BIS Oxford Economics report confirmed Brisbane as a 'surprise performer' with expected house price growth of 2- to 3 per cent to 2019-20, before greater growth of six per cent forecast in 2020-21.
[Silverhall's researched areas in Brisbane are forecast to significantly exceed these numbers]
According to PRDnationwide's Affordable and Liveable Property Guide, Brisbane has proven to be the most affordable and liveable capital city.
“Brisbane has some good property market fundamentals, but we have to go way back to 2007 to find the last time that its property market produced double-digit price growth."
[Silverhall: Current interstate migration numbers to Queensland are back to the same levels as 2007, with the majority migrating to the Greater Brisbane Area]
“Brisbane’s long-running underachieving property market is a reflection of a city with enormous potential."
The situation may be starting to change.
Recent announcements by the State Government to invest $46 billion in major infrastructure projects, including the Cross River Rail, have experts predicting a spike in new job creation.
Economic forecaster Deloitte Access Economics said that the outlook for engineering construction in Queensland is better than it has been for some time.
The State Government's State Infrastructure Plan (SIP) focuses on a range of infrastructure spending, including $11.6 billion of infrastructure investment to be rolled out in 2018-19, which aims to support up to 38,000 jobs.
This is supported by the Brisbane City Council and the Federal Government's $944 million investment in Brisbane Metro project which is now fully funded.
Other major projects include Brisbane Airport's second runway, Queen's Wharf and the Howard Smith Wharves redevelopment.