We knew the Brissie property market finished 2020 on a high note – and now we know just how high. It’s a record high in fact.
“Brisbane housing values rose by 1.1 per cent over the month of December,” CoreLogic’s Head of Research, Tim Lawless told 9news.com.au.
“In fact, Brisbane housing markets are now at a record high in terms of housing value.”
That means we outperformed Sydney and Melbourne.
As at December 31, CoreLogic’s monthly Home Property Value Index showed Brisbane house values had increased 4.57 per cent year on year.
Our neighbouring regions did pretty well too, with Logan, Ipswich and the Gold Coast all recording upward price movements in December.
The price growth is just the tip of the iceberg with economists at Australia’s big banks predicting a standout year for Brisbane house values.
Westpac has forecast housing price growth of up to 8 per cent for Brisbane this year.
While ANZ expects Brisbane to see a stellar 9.5 per cent.
These figures compare favourably to ANZ’s national growth forecast of 5 per cent.
“Brisbane I think will also see some strong growth, because they’ve been less impacted by the pandemic and so they’ve got lower debt levels to start with. They’re also playing catch up after a few years of underperforming,” AMP Capital chief economist Shane Oliver told domain.com.au.