In a recent edition of Market News we compared our local Brisbane market to that of Sydney – one of the country’s most inflated real estate markets. This week we head even further south and shift our focus to Melbourne to see just how our local city market fairs with another one of the country’s top performing states.

Yet again, the results prove just another tick in the box for those looking to invest in the Brisbane CBD.  As a recent industry report shows that the average cost to rent an apartment in Brisbane is now on par with Melbourne, even despite large discrepancies in the cost of buying a property in both capital cities.

The Domain.com.au rental report for the recent June quarter shows there has been no relief from escalating rents for Brisbane apartments, with the average price for an apartment now reaching $370. This figure is up by 1.4 per cent on the previous quarter and now brings our state’s price on par with the cost of renting an apartment in Melbourne.

So, as Brisbane renters now pay equivalent to their Melbourne counterparts, one would assume that the cost of purchasing an apartment would also fluctuate. However, this this is not the case. Surprisingly, the cost of buying an apartment here in Brisbane still remains significantly lower than purchasing a CBD apartment in Melbourne.

In fact, real estate investors can snap up a Brisbane property for an average $100,000 less in the Queensland capital than in its Victorian equivalent. Not the best news for those renting however, this kind of positive return on investment is music to the ears for local property investors as well as those wanting to sell their Brisbane apartments.

We can expect to see more and more people, including investors, leave the Melbourne market and head up north to Brisbane.

So once again industry reports indicate that the Brisbane CBD offers great opportunities and a convincing return on investment. For sound advice on how to enter the property market or grow your portfolio, speak to the team here at HSBP or contact Hannah on 0419 782 133 for an informal chat.