Brisbane values were just 0.1 per cent lower in August, compared to the prior month. This compares favourably to a drop of 0.9 per cent over the previous three months.
Overall, Brisbane values remain in positive territory compared to a year ago, up 3.5 per cent, reports CoreLogic.
Prices are holding strong in our local market with buyer demand exceeding a lower than usual number of listings. Nationally property listings dropped in August, reports SQM Research. Brisbane listings dropped 5.1 per cent, a smaller drop than the national number of listings which fell 6.3 per cent.
Brisbane asking prices for houses recorded a “marginal” monthly dip of 0.7 per cent, while unit asking prices saw even less change, dropping just 0.1 per cent.
All up the stats are pointing to a resilient Brisbane market – and perhaps we shouldn’t be too surprised about that.
“The performance of housing markets are intrinsically linked with the extent of social distancing policies and border closures which also have a direct effect on labour market conditions and sentiment,” said CoreLogic head of research Tim Lawless said.