In fact Brisbane dwelling values grew 0.5 per cent in September, one of the highest growth rates of any capital city in Australia. This takes us to a healthy annual growth rate of 3.8 per cent.
Sydney and Melbourne both saw price drops, dragging the national result down by 0.1 per cent, although this was the smallest drop since values began to decline in May, reports Domain.
“The aggregate effect of low mortgage rates, and the prospect that rates could fall further, low inventory levels, government incentives and improving consumer sentiment seems to be outweighing the negative economic shock brought about by the pandemic,” said CoreLogic head of research Tim Lawless.
Through its Federal Budget and plans to make home lending a lot easier from next year, the government is also taking further steps to support Australia’s housing market and home buyers through to a post pandemic recovery.
Meanwhile low stock on market was also keeping the price floor stable with listings down 22 per cent nationally compared to last year.
This is good news for those who do test the market as buyers are lining up to see new listings.
Check out the capital city growth rates for September:
- Darwin 1.6%
- Adelaide 0.8%
- Brisbane 0.5%
- Canberra 0.4%
- Hobart 0.4%
- Perth 0.2%
- Sydney -0.3%
- Melbourne -0.9%
Thinking of testing the market? Talk to us about selling.