With consumer sentiment growing and an increase in interstate migration, the desire for housing in Brisbane is on the rise.
According to CoreLogic, price growth has been more aligned with residential houses in Brisbane, which is up 5.9%, compared to a 1.1% hike in apartment pricing over the past 12 months.
House values in Brisbane in February had a monthly increase of 1.5%, which is the biggest monthly jump since November 2017.
Brisbane’s current median value now sits at $535,618, which is the highest on record. But still well behind Sydney and Melbourne’s median values, suggesting there’s significant opportunity for growth to catch up.
According to The Urban Developer, in Brisbane east, house prices have lifted by nearly 10 percent during the past 12 months.
If we look at clearance rates across the city, Brisbane is on par with record highs over the past several weeks. Buyers are snapping up more than three-quarters of homes on the market, driven by historically low interest rates and Australia’s recovering economic landscape.
Across the country, clearance rates were very high in the month of February and continuing in March, driving the sellers market we are currently in across the nation.
Contact us to identify what investment opportunities are currently available in the Greater Brisbane market.
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