The number crunchers at CoreLogic RP Data say Brisbane has had the third highest rate of growth of all capital cities during this property cycle.
“Over the current growth cycle, which commenced broadly in June 2012, capital city dwelling values have moved 34.4 per cent higher, led by a 52.7 per cent rise in Sydney home values, and a 37.1 per cent lift in Melbourne values,” CoreLogic Research Director Tim Lawless said.
“This result highlights the two-tiered nature of Australia’s housing market. Brisbane experienced the third highest rate of dwelling value growth over the growth cycle to date; dwelling values in the city are now up 18 per cent.”
More recently, Brisbane and our southern capital city counterparts have continued to record “broad-based” growth, according to the latest CoreLogic RP Data Hedonic Home Value Index.
Every capital city except Perth recorded gains in the first four months of 2016, with dwelling values across the combined capital cities clocking up 3.3 per cent growth.
Year-on-year to April, Melbourne dwellings recorded the greatest growth of 10.1 per cent, followed by Sydney’s 8.9 per cent and Brisbane placed a respectable third with 6.2 per cent growth.