According to The Australian Financial Review, the pandemic-driven boost to Brisbane's prestige property market that prompted locals to upgrade and interstate buyers to coming looking for cheaper, larger homes is likely to continue.
Queensland's state final demand – a key measure of economic growth – jumped a nationally leading 6.8 per cent in the September quarter, equal fastest with NSW, and Brisbane was the the only east-coast capital where net interstate migration rose in the June quarter, the latest figures show.
The drivers that were pushing demand for the city's prestige and river-front homes were likely to continue, agent Jason Adcock said.
"We’re looking at a 2-3 year run, particularly in the high end of town," Mr Adcock said on Thursday.
"That is being driven by a huge amount of locals upgrading – they can’t go overseas any more – so they’re thinking if they’re going to spend more time at home they want a nicer home."
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