Brighter Buying

Brisbane price peaks at all time high

by Kate Watt, Marketing Manager 5 October 2016

Brisbane’s housing marking has clocked up a new median house price high of $635,000 according to the latest quarterly data from the Real Estate Institute of Queensland (REIQ).

This represents growth of 1.3 per cent in the Brisbane local government area, compared to the previous figure reported in the Queensland Market Monitor – a feat experts say is no “flash in the pan”, with cashed-up buyers now flying in from southern states on weekends to view homes.

REIQ CEO Antonia Mercorella said the growth showcased what our housing market does best, “grow in a steady, sustainable way, consistently over the long term”.

The Queensland Market Monitor forecast ongoing growth for Brisbane, with houses in particular considerably more affordable than Sydney and Melbourne. Brisbane is also increasingly attracting interest from interstate and international investors, while affordability is expected to drive migration to our city.

Meanwhile, widespread fears of a Brisbane CBD unit oversupply have yet to materialise in the numbers.

The median unit price in inner Brisbane grew 4.2 per cent in the June quarter to $500,000.

You can access the full Queensland Market Monitor report at the REIQ website.

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