Brighter Buying

Market Update: Brissie is past the peak… or are we?

by Richard Parker, Sales Manager 27 July 2022

Brisbane property values are currently at a record high and growth is slowing prompting some commentators to call it: Brissie is the past the peak.

In fact Core Logic says every capital city in Australia has now moved through a peak rate of growth.

Its July Housing Chart Pack shows Brisbane dwelling values grew by just 0.1 per cent in June. Over the quarter values grew by 2.7 per cent. And this capped off a whopping 25.6 per cent growth spurt over the past 12 months.

So the data shows that the pace of price growth is slowing. But have prices hit their high point?

Possibly not.

The Herron Todd White property clock for June says Brisbane houses are approaching the peak of the market, but not there yet, and unit values are still rising.

There seems to be unanimous agreement that the growth party is over for our southern capital city counterparts. The property clock shows Sydney at the peak of the market, and Melbourne now in decline.

The CoreLogic stats back this up, showing both cities saw price drops over the past month and quarter, and yearly growth was a single digit shadow of past peak performances. Prices are below their former record high in these cities.

So the Brissie market remains a solid prospect for buyers who want to see returns and some relief may be in sight for those who were out-paced during the height of the growth spurt.

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