There are a few things that are setting Brisbane apart . The first is stellar population growth , driven last year by interstate migration and further pushed along this year by reopening international borders . The second is a high level of positivity - Queensland ’ s economy ’ s going pretty well and will do better again as it continues to operate more normally in 2022 . Add to this the Olympics - while still some time away , it has given Brisbane international status and this seems to have impacted premium markets in particular .
The third is that Brisbane remains affordable . This further exacerbates population movement given affordability challenges elsewhere but is also encouraging a high level of interstate investor activity . For $ 1 million , you can buy in Sydney ’ s highest crime suburb of Blacktown . For the same price , you can buy in Brisbane ’ s Kelvin Grove . Brisbane ’ s most expensive suburb for houses is now Teneriffe at $ 2.5 million , similarly priced to Sydney ’ s Collaroy Plateau - a nice suburb but far from being that city ’ s most expensive .
The outlook for Brisbane is particularly positive this year . In the first half of this year , it looks like price growth will continue to accelerate . And like the rest of Australia , rents are set to rise as international borders reopen - which is great news for investors but could get challenging for many renters , particularly in highly desirable suburbs .
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