Brighter Buying

Market update: Brissie price growth outpaces the nation

by Dan D'Silva, Property Consultant 21 September 2023

Brisbane house and unit prices are up as listings remain down, resulting in a nation leading growth spurt.

In August, Brisbane topped the national charts for monthly and quarterly price growth.

On a monthly basis, Brisbane prices grew 1.5 per cent and over the quarter they rose 4.2 per cent. That outpaced Sydney which saw 3.8 per cent growth over the same period.

This takes median Greater Brisbane dwelling prices to $747,626 based on CoreLogic data, reports Australian Property Investor magazine. That’s a whopping 37 per cent above pre-COVID levels.

What’s driving the growth? Our sellers appear to be at home, feet up, cool drink in hand, and oblivious to the solid gains they could be making in the current market.

“Listing volumes in Brisbane have remained consistently low for a considerable period,” reports Australian Property Investor magazine.

“According to CoreLogic, new listings in Brisbane were 15.6 per cent lower last month compared to the same period one year ago. The data also confirmed that total listings decreased 22.3 per cent during this same timeframe.

“Additionally, SQM Research indicated a decline in both new and total listings year-on-year, with a noticeable decrease from July 2023 to August 2023.”

So with buyers hungry for new listings, now could be the right time to make your move.

Thinking of selling? Book a valuation or talk to us about selling.