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Brisbane Construction News In Brief

 

BIS: Slow Recovery for Brisbane Property Market - Economic forecaster BIS Shrapnel says January may mark the start of a recovery in Brisbane's suffering property market.

This comes after a belaboured start to the spring property season, with the market still reeling after the end of the first home buyer's grant boost last year which was marked with summer floods and weakened national and overseas migration.

"This financial year will be pretty tough. We're expecting moderate growth – percentages in the low single digits - in terms of new dwelling construction and in terms of prices as well, said BIS forecasting manager, Angie Zigomanis.

"But 2012 will be more of a consolidation year." Mr. Zigomanis further predicts a rise of 7% in property prices over the next financial year, but cautions that a recovery in the market will be slow.

"It will be a slow climb because Brisbane has been so weak and confidence has been so low," he said.

BrisVegas, as Queensland's capital is sometimes referred to, is one of the country's most popular tourist destinations. Brisbane is full of galleries, cinemas, museums and gardens, as well as some world-class restaurants.

 

 

Brisbane's climate is the best in Australia, with hot summers and mild winters making for almost year-round sunshine. Brisbane is the third largest city in Australia, with a population of over 1.8 million. On Brisbanes east you have Moreton Bay and its islands providing water sports, sailing and sea-side suburbs. A booming economy, beautiful views and glorious weather have made Australia's third largest city the only place to be in Australia.