So what does this tell us?
Brisbane is overdue for a growth spurt.
The pace of growth might not reach the giddy heights of prior boom times, but we are one to watch says Tim Lawless of Core Logic in his Brisbane housing market update for March.
“Affordability of housing is one of the Brisbane market’s strengths, with a median house value just over $533,000 and a median unit value around $383,000,” said Mr Lawless.
“With jobs growth improving and population growth picking up, the Brisbane housing market could consistently start to outperform the larger capitals.”
Sydney and Melbourne both reached their peaks in 2017, so investors are looking for a new capital city in which to park their dollars. Meanwhile unaffordable prices in those capitals are driving a great migration north to the cheaper – and let’s face it, far more pleasant – regions here in south east Queensland.
Even our inner city unit market could be showing signs of stabilising after a period of oversupply.
“Considering the unit construction cycle peaked in late 2016, the inner city unit market may starting to see a subtle improvement,” he said.
Want to buy in a market that’s on the way up? View our current listings for sale.