Brisbane a hot tip for Australian property investors
Last Updated on Tuesday, 22 May 2012 02:50 Tuesday, 22 May 2012 02:48
Brisbane has been highlighted as a good place to buy real estate.
Residex has advised investors to consider purchasing property in Brisbane following the decision by the Reserve Bank of Australia to reduce interest rates by 0.5 per cent at its May Board Meeting.
The independent provider of real estate information in Australia said that, despite this, conditions in the housing sector are continuing to improve.
Chief executive officer and founder of Residex John Edwards said Brisbane's property, in particular, is faring well.
"It seems to us that by September, or perhaps even a little earlier, we will be able to report growth in this market again," Mr Edwards stated.
He remarked that rental yields for houses in this city are 5.1 per cent, adding Brisbane's market is "worth exploring for bargains and future quality returns".
His comments follow results from the Rismark Home Value Index, which revealed earlier this month that small rental increases were recorded in Brisbane between April 2011 and the same month in 2012.