BRISBANE is leading the nation in all four property performance indicators for the first time in more than a decade — defying the downturn gripping the other mainland capital cities.
New figures show Brisbane is the only capital city to record an increase in home values over the past week, month, year-to-date and 12 months.
The last time the Queensland capital did that was back in 2007 before the Global Financial Crisis.
While home values in the other mainland capital cities headed south, houses and units in Bris- bane gained a third of a per cent in value in the past 28 days, according to property researcher CoreLogic.
Capital city home value changes
CoreLogic senior research analyst Cam- eron Kusher said Brisbane was continuing to record “moderate growth” while the other mainland capitals were slowing.
“The rate of growth in Brisbane is generally slower than it was a year ago, but when you look at migration to Queensland picking up and what’s happening in Sydney and Melbourne, it’s no real surprise that Brisbane is holding up better,” Mr Kusher said.
He said it was likely Brisbane could experience an acceleration in home value growth thanks to increasing migration, an improving local economy and its relative affordability.
But not to the extent seen in Hobart, Sydney and Melbourne in the past. “I think you’ll see pretty steady growth in the next year or two,” he said.
BRISBANE’S BEST PERFORMING SUBURBS
Suburb Property type Median price Median price change in past 12 mths
Tennyson Unit $1.2m 45%
Rochedale Unit $685,000 35.6%
Hamilton House $1.4985m 26.7%
Sandgate House $732,500 22.1%
Wilston Unit $507,250 20.3%
Bardon Unit $655,000 19.1%
Bardon Unit $655,000 19.1%
Sunnybank House $850,000 17.1%
Seven Hills House $950,000 16.9%
Kangaroo Point House $1.0225m 16.9%
Source: https://www.realestate.com.au/news/brisbanes-property-market-leading-the-nation-for- first-time-a-decade/
