Brighter Buying

Sky high: ever-growing Brisbane achieves new median house price

by Kate Watt, Marketing Manager 22 September 2017

A new record median house price of $655,000 is the cherry on top of four years’ solid growth for Brisbane, according to new quarterly real estate data.

The Brisbane local government area grew by 3.6 per cent in the 12 months to June, according to the latest Real Estate Institute of Queensland (REIQ) Queensland Market Monitor.

REIQ CEO Antonia Mercorella said Queensland’s southeast corner once again stood out as the ideal housing market, delivering steady, sustainable growth.

“There is no denying the consistency of Greater Brisbane’s yearly median house price growth – we have grown steadily for about four years – which is proof that affordability combined with jobs and lifestyle are the recipe for a pretty close to perfect house market,” she said.

The Greater Brisbane area is also shaping up as a more attractive growth option compared to our southern rivals, who look set to run out of puff.

“Looking at Greater Brisbane compared with Greater Melbourne and Greater Sydney our median house price has grown 4 per cent to Melbourne’s 9 per cent and Sydney’s 6 per cent (for 12 months to 31 May) but as those markets start to cool people are naturally growing concerned about a potential correction,” Ms Mercorella said.

“However, throughout the southeast corner, our growth is based on an improving value proposition, which means it is reliable, sustainable capital growth.”

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