Over the past few years, since the 2010 – 2011 Queensland Floods, Brisbane’s real estate market has been through several periods of change.

However, according to QBE’s Australian Housing Outlook 2014 (which highlights recent real estate figures from research house BIS Shrapnel), the real estate market is about to get a lot whole brighter for Australia’s Sunshine State – allowing Queensland to truly live up to its name.

According to figures, the 2013/2014 financial year saw a 5.6 per cent growth in the median house price, demonstrating a positive sign of renewed strength for Brisbane’s market.

Best of all, this forwards progression is just the beginning, with the Australian Housing Outlook 2014 also revealing that Brisbane’s median house price is set to soar by a massive 17 per cent over the next three years – outperforming all other capital cities, including almost doubling that of Sydney.

The figures look like this… Sydney’s forecasted growth is 9 per cent, while Adelaide is expected to see 6 per cent growth, closely followed by Melbourne and Hobart with 5 per cent. Canberra and Darwin are predicted to stay much the same with only one per cent and two per cent growth respectively.

Meanwhile on the other side of Australia, Perth is expected to drop by 2 per cent over the three year period.

Brisbane’s growth begins next year, with the median price of housing expected to increase by 7.4 per cent in 2015. Later in 2016, BIS Shrapnel anticipates a record year of 7.5 per cent growth, which is followed by a further 1.3 per cent in 2017. This three year consecutive growth means that in 2017 the median house price in Brisbane will be $550,000.

There are many underlying factors set to play a role when it comes to the currently projected increase of Brisbane’s housing prices - low interest rates and increasing employment opportunities instantly come to mind.

Other contributing factors set to have an effect on Brisbane’s real estate market include a rise in the demand of first home owners; expanding residential construction; greater consumer spending and; reductions in the Australian dollar, which will see a boost in tourism and, consequently, the economy.

Want to get on the front foot and nab yourself a fabulous piece of CBD real estate before the projected price rise hits? Perhaps it’s time to sell your CBD property now and reap the rewards? Buying selling or investing, for all your Brisbane CBD real estate enquiries please contact Hannah on 0419 782 133.