The experts are agreed our market has huge potential. With a median house price now half that of Sydney our Brisbane has room to move, and move and move.
But in 2016-17 we were like the smart kid smoking ciggies at the back of the bike sheds.
We turned up to class often enough to pass exams, but everyone knows we can do better – which is a great incentive for value-hungry buyers.
CoreLogic RP Data reports Brisbane has had property value increases every year for the past five years. So despite being on a go slow in 2016-17, we’re a reliable performer.
Our average dwelling value increase of 2.0 per cent in 2016-17 put us somewhere in the middle of the class.
Melbourne claimed the gold star with a 13.7 per cent growth spurt, knocking Sydney off its perch at 12.2 per cent growth.
The race to the bottom was played out in Australia’s north and west markets. Perth fell by 1.3 per cent, and Darwin fell by 7.0 per cent.
School is now in for 2017-18, so where to from here? The potential is there and we think it’s just a matter of time before Brisbane moves from chillaxed to fired up. Time to pull your socks up Brisbane and show those big kids what you can really do!