Brighter Selling

Brisbane growth the envy of southern capitals

by Kate Watt, Marketing Manager 31 March 2016

The Brisbane local government area (LGA) has recorded is 14th consecutive quarter of growth to reach a new median house price of $632,000, according to the latest data published by the Real Estate Institute of Queensland (REIQ).

More than three years of steady growth reaffirmed our real estate’s reputation for reliability and was a feat to be admired.

“Our market has avoided the pitfalls of a boom and bust cycle, performing consistently over the past 14 quarters, which is more than three years of sustained growth,” REIQ CEO Antonia Mercorella said.

“I know some property owners in Sydney and Melbourne who envy that record,” she said.

Brisbane’s new median represents an increase of 1.6 per cent for the quarter, a rise of 6.1 per cent on 12 months ago and an increase of 14.2 per cent on five years ago.

In the southeast corner eight out of nine LGAs recorded either a median house price increase or static price when compared with the previous quarter.

Statewide, most markets showed increases in median house prices with the exception of the Fraser Coast (-7.3 per cent) and Mackay (-3.7 per cent) while Gladstone and Townsville defied expectations to record increases in their median house prices.

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