If you’re a new investor or an investor who only has a few years left to make your fortune. Brisbane is the place to be investing.
In the below article Property Observer talks to John McGrath who would be one of the most respected real estates agents in the country.
Brisbane offers the best investment opportunities in the country: John McGrath
Brisbane offers the best investor opportunities in the country, according to leading Sydney real estate agent John McGrath.
If buyers can get physically get to Brisbane and have a look around then now is a good time to buy, McGrath told the audience at the Property Millionaires Tour in Melbourne on Friday which Property Observer attended.
“I can think of no better city other than Brisbane over the next five years, it’s great,” McGrath said.
“But you will have to have the ability to get up there and research it and become an expert in that market. If you don’t have that ability I’d stick closer to home in Melbourne.
“If I was investing today, if someone gave me $1 million today, I would be looking at either Melbourne, Sydney, Gold Coast or Brisbane. They would be my four choices.”
He says the Gold Coast is a good option but there can be significant movement.
“Gold Coast has been hit very hard but while it comes down very quickly but it can go back up very quickly. We have seen prices go for 40% or 50% from the top, it’s now stabilised and we’re seeing it get a bit better up there so we think that’s a good market.”
“The Sydney market under $1 million is leading the way around Australia. The Melbourne market is good, Hobart is terrible at the moment, Gold Coast has been struggling but I think represents some great buying opportunities going forward. Perth is good at the moment but is quite cyclical.”
He says Sydney and Melbourne are both looking strong in the sub $1 million market.
“If you were up in the Gold Coast you would say the strength is under $600,000 and in Brisbane it’s at $750,000.”
In Februrary McGrath opened his fourth real estate office in Brisbane within nine months.
In his autumn property report he tipped Brisbane for a recovery driven by strong employment and population growth coupled with a supply shortage and rising rents.