Waves of apartments shooting to the sky had the city on the cusp of an oversupply of housing as debt levels soared. But as the national market begins to show glimpses of stability after more than a year of falls, the Queensland capital has escaped largely unscathed, realestate.com.au chief economist Nerida Conisbee said. According to Ms Conisbee, search activity on the site shows buyers are surging to the market with a number of suburbs primed for investment. Realestate.com.au median prices for May showed Brisbane had lost 1.2 per cent of value over the previous 12 months, but it had flattened completely over the previous month. The city’s east had edged higher by 0.2 per cent, indicating to Ms Conisbee the sunshine state’s capital is poised for a resurgence. “It did weather the downturn far better than Melbourne and Sydney, which was surprising in some ways given how much development took place in Brisbane,” she told news.com.au. “At one stage, the very high levels of development were starting to cause a lot of concern around vacant apartments and people taking on loans that were too big. “It looks like those risks flowed through pretty quickly, and the market has come out… Read full this story
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