Our capital city continues to hold strong while home values fall in Sydney and Melbourne, according to May figures from CoreLogic.
In a match that was dancing dangerously close to golden point territory, Brisbane home values were set to rise 0.1 per cent by month end, while Melbourne fell 0.5 per cent and Sydney dropped 0.2 per cent, reported news.com.au.
CoreLogic head of research Tim Lawless told news.com.au that Brisbane was outperforming the larger capital cities because its home values were holding steady.
“Brisbane on paper is looking like a very good market,” Mr Lawless said. “It’s affordable, has high yields and is seeing strong population growth.”
However a “kickstart in property values” hadn’t materialised just yet.
We think the Queensland spirit will see to that in time. Outside Brisbane the rest of our state was also putting in a match winning effort with the Gold Coast and Sunshine Coast seeing good growth and the start of a recovery evident in our regional mining towns.