WHY ARE BRISBANE PROPERTY PRICES GOING UP BY SO MUCH DURING A PANDEMIC?

A perfect storm of low stock, even lower interest rates, wage growth and a global pandemic have catapulted Brisbane’s typically slow-moving property market into the stratosphere, sparking a once-in-a-decade boom that experts say could fuel a further 10 per cent rise in house prices in the coming year.

While detached property prices rose in every capital city except Darwin and Perth over the January quarter, according to figures released by Domain, the almost magical mix swelling Brisbane’s usually stable market has been brewing for two years, says Brisbane-based market analyst and owner of Propertyology, Simon Pressley, with the red-hot industry showing no signs of slowing.

“All of Australia without exception – in every single location – is strong and it’s the first time the country has seen this for about 18 years,” Mr Pressley said.

“So, it’s a case of rising tides lifting all ships – but not everyone is rowing in the same boat.

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