Everyone’s talking about Brisbane and the possibility that this Queensland capital could be Australia’s next big ‘boom town’.
Following Sydney’s runaway success over the last couple of years, and Melbourne’s strong performance, people want to know ‘where to invest next’ and the idea of another boom town is very appealing.
But Brisbane may not be the epic hot spot everyone is hoping for…
Just last week, Brisbane held 117 auctions for the week ending July 17th.
The preliminary clearance rate was 46.8 percent, which was less than half, according to CoreLogic.
When Sydney was going gangbusters, the clearance rate at auction was upwards of 70%!
I’m not saying you should avoid investing in Brisbane – far from it.
What I am saying is that it’s imperative to do your due diligence and make sure every property you buy lines up with your investment strategy – rather than investing somewhere because everyone else says the area is ‘set to boom’.
As I always say: the best investment you will ever make is in your own education!