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Staff Reporter
Pent up rental demand in Brisbane could spark a surge in investor sales, according to PRDnationwide.
Josh Brown, PRDnationwide research analyst said looking forward, investors capable of purchasing a well-placed property will begin to enjoy stronger yields.
Mr Brown’s remarks come on the back of the PRDnationwide Brisbane Highlight Report, which indicates the property market will remain stable at least for the remainder of 2011 with provisions for further gradual price corrections.
Brisbane had a slow year for property price growth in 2010, at 3.6 per cent, while sales activity had dropped to its lowest level in a decade.
Meanwhile, rental rates have increased by a similar amount.
“This figure is in lieu of the low level of active buyers in the housing market and the high number of displaced residents following the January floods,” Mr Brown said.
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