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Marginal fall for Brisbane property prices

By James Brown

Bellmere real estate could now be in your reach more than ever before, as the latest figures show property prices have declined across Brisbane.

The Queensland capital was just one of two cities – the other being Perth – to have seen values drop in the first three months of the year, the Bendigo Bank/Real Estate Institute of Australia (REIA) Real Estate Market Facts found.

Values experienced a decline of 1.1 per cent, which could come as good news if you've yet to get your foot onto the property ladder.

Sydney remains the capital with the highest property prices in the country, with Hobart being named as the location with the lowest priced real estate.

There's an added incentive for purchasing your own home as well, with the data showing that asking rents are on the rise across the nation's capitals.

President of the REIA Peter Bushby has said both houses and other dwellings are now more expensive to rent than they were at the end of 2013 in many parts of the country.

"A tightening rental market is another indicator that the federal government did the right thing leaving negative gearing in its current form and its retention is critical to maintain the supply of housing and the level of rents," he commented.

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