Strong price growth has returned to Sydney and Melbourne and is expected to spread to more affordable Brisbane, according to CBRE research. While the devastating COVID-19 outbreak has cast a shadow over the economy in the opening months of this year, CBRE's 2020 market outlook report says Australia’s development cycle is returning to undersupply. “Apartment supply cycles in the major capitals are past their peak and vacancy levels are well controlled,” CBRE's head of residential research Craig Godber said. The report notes that approvals in Sydney, Melbourne and Brisbane are “particularly evident” for large developments in the three capital cities. “With cost of debt low and lending volumes starting to turn, investors should gradually return,” Godber said. Property advisory group Charter Keck Cramer last week forecast an apartment undersupply by 2022 due to slumping numbers of new apartments under construction. The property advisory group said the demand-supply imbalance was largely...

Brisbane is officially under construction. Everywhere you look, there is a major construction site underway. A city of 2.5 million, a region of 3.6 million, the city is undergoing monumental change, with 2020 welcoming the start of many new major projects about to come online. The video above counts down Brisbane’s top 15 major projects of significance for the year. The significance of a project doesn’t always mean the associated dollar figure, but more how it will impact the city. Below is the list:   1. Brisbane Live Artist’s impression of Brisbane Live arena Brisbane Live is a large scale inner-city precinct development located at Roma Street Station, a surface level interchange train station for six Queensland rail lines. The centrepiece of the project is a new 18,000 entertainment arena complex which would be built above the open-air Roma Street Rail Yards. Surrounding the arena, a large scale entertainment precinct...

A house for rent at Caboolture. Picture: Paul Guy RENTS are defying the national housing downturn, with Brisbane showing one of the biggest rises as it continues to buck the trend. The latest quarterly rent report from property researcher CoreLogic reveals rents increased 1 per cent around the country in the first three months of the year. Rents in the Queensland capital rose 0.8 per cent during the period to reach a median of $436 a week, which is the same as the national average. Rents are rising in Brisbane. Image: AAP/Glenn Hunt And they have jumped 1.4 per cent in the past 12 months. The report noted the past year had marked a change in direction for the Brisbane rental market, following several years of declines. Rental yields are also strong in Brisbane at 4.55 per cent, which is higher than the national average of 4.1 per cent. Quarterly...