SOUTHEAST Queensland house prices are tipped to grow by up to 20 per cent in the next few years as Sydney and Melbourne's once sizzling property markets continue to lose steam, according to veteran real estate agent John McGrath. Speaking after the release of the group's annual residential market report, Mr McGrath told The Courier-Mail the state was only just over halfway through the current property cycle and stood to benet from the slowdown starting to grip the southern capitals.
"We're very bullish in your part of the world," Mr McGrath said.
"There's no doubt in my mind there will continue to be growth in southeast Queensland."
Mr McGrath said he expected between 10 and 20 per cent growth over the next two to three years in the Queensland's southeast corner, led by Brisbane.
"There have been huge capital gains in Sydney and Melbourne and not only has it made it unaordable … it's certainly made people look for better value elsewhere in the country," he said.
The McGrath report found southeast Queensland's aordability was attracting record levels of interstate migration as well as rising interest from investors and rst home buyers, with its housing market continuing to produce solid results despite the economy remaining sluggish as it transitions away from mining.