Brighter Buying

Brisbane’s growth last quarter was the fastest on record

by Kate Watt, Marketing Manager 24 March 2022

Property prices across Australia’s capital cities rose 4.7 per cent over the last quarter according to new stats, and Brissie set a record-breaking pace.

An increase in Brissie property prices of 9.6 per cent between September and December 2021 sent calculators into overdrive at the Australian Bureau of Statistics.

“The 9.6 per cent rise in Brisbane is the biggest quarterly rise in that city since the ABS began its record keeping in 2016,” the ABC reports.

“Prices have now risen by 27.8 per cent in the Queensland capital in the past 12 months.”

The growth was most evident in the upper and middle property markets, it reported. Queensland’s median price has now hit $749,000 – but that is a super broad-brush figure and suburbs across Queensland, and even within Brisbane, will have very different price bands.

So will the growth train stop anytime soon?

It depends. Increasingly property commentators are predicting slower growth and even price drops, particularly for over-heated southern capitals.

If the Reserve Bank of Australia raises interest rates that will put pressure on how much buyers can borrow which could slow or even reverse price growth.

Brisbane is coming off a more affordable base than Sydney and Melbourne and it has the pull of the 2032 Olympics infrastructure spending that will keep the city vibrant.

So if you have a crystal ball that can say exactly what will happen to prices in our city – we’d love to see it too!

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