Brisbane housing values ended the year up 27.4 per cent, second only to Hobart on the capital city rankings, and well ahead of the national average of 22.1 per cent.
Strong monthly growth in December of 2.9 per cent showed growth had yet to slow, according to the latest CoreLogic Home Value Index.
CoreLogic noted that Brisbane and Adelaide, as well as regional Queensland were the only broad regions yet to show signs of a slow down with the monthly growth rate for December hitting a new high in the annual cycle.
“These regions show less of an affordability challenge relative to the larger capitals, as well as better support for housing demand with Queensland in particular showing strong interstate migration,” said CoreLogic Research Director Tim Lawless.
“Additionally, we haven’t seen the same level of supply response seen in other regions, with the trend in advertised supply remaining well below average in these markets.”
So what’s predicted for the year ahead?
Most commentators are tipping Brisbane as a growth city to watch.
CoreLogic notes the question of Covid impacts remains the “biggest wildcard” in the Aussie property market with any return to pandemic restrictions likely to impact property transactions but also prolong low interest rates which have helped keep the housing market buoyant in 2021.