Brighter Buying

Market Update: Floods fail to dampen Brissie price growth

by Richard Parker, Sales Manager 13 April 2022

Spectacular employment growth, herds of southern state escapees moving north and relative affordability continue to push Brisbane’s property prices higher.

According to the latest CoreLogic Hedonic Home Value Index, the median value for dwellings across Greater Brisbane is now $749,293.

Outside directly impacted local areas, the floods have not dampened prices. In fact supply reduced for a couple of weeks after the floods reports Smart Property Investment.

This can push prices higher in a high demand market.

And buyers are still scrambling over Brissie listings like seagulls on a chip.

Total advertised homes for sale are more than 25 per cent lower than a year ago, and more than 40 per cent lower than the previous five-year average.

But sales volumes remain high, reflecting strong demand.

This is in part because a lot of people are moving to Queensland.

In the September quarter last year migration to Queensland reached a new high with 1,263 residents moving here every week. That’s a lot of new people looking for a place to call home!

So with all that combined, Brissie price growth may be looking up for a little while yet.

Want to make a move in a growing market? View our current listings for sale or talk to us about selling.