16.06.2021
Brisbane Emerges As Country’s Strongest Real Estate Market
Australian property prices fell for the first time since the beginning of the pandemic, but Brisbane has bucked the nationwide trend, emerging as the country’s strongest real estate market, according to the PropTrack Home Price Index.
While home prices (including houses and units) fell in May, down 0.11 per cent nationally, month-on month, Brisbane continues to record positive growth.
Brisbane Property Values Snapshot:
- Median value for homes increased by 0.8% from last month
- Median value for units increased by 1.2% from last month
- Median value for dwellings increased by 25.9% over the last year
This is the first month since September 2020, that Brisbane units have increased in value at a faster pace than Brisbane houses on a monthly basis.
While the gap between houses and units in Brisbane has grown considerably, we are starting to see a shift in the demand for some property types across Brisbane, with interest rate increases and affordability issues some buyers are being priced out of houses, so instead of compromising on the location to buy, they are looking to compromise on the property type.
According to CoreLogic, total advertised stock levels in Brisbane are 38.2 per cent below the five-year average. Combined with strong levels of interstate migration and relative affordability, Brisbane continues to boom with high demand, which will provide further upward price pressure in the unit market.
This rapid price increase over the last 12-18 months, has positioned Brisbane’s market as the most attractive for property investors, capitalising not only on a long-term perspective (hosting the 2032 Olympic Games), however, yield opportunity as well.
With Vacancy Rates at a record low and rents continuing to rise, this creates a unique opportunity for investors to hedge against inflation.
Source: CoreLogic & PropTrack Home Price Index
admin
https://pacificeastcoast.comBrisbane Emerges As Country’s Strongest Real Estate Market
Australian property prices fell for the first time since the beginning of the pandemic, but Brisbane has bucked the nationwide trend, emerging as the country’s strongest real estate market, according to the PropTrack Home Price Index.
While home prices (including houses and units) fell in May, down 0.11 per cent nationally, month-on month, Brisbane continues to record positive growth.
Brisbane Property Values Snapshot:
- Median value for homes increased by 0.8% from last month
- Median value for units increased by 1.2% from last month
- Median value for dwellings increased by 25.9% over the last year
This is the first month since September 2020, that Brisbane units have increased in value at a faster pace than Brisbane houses on a monthly basis.
While the gap between houses and units in Brisbane has grown considerably, we are starting to see a shift in the demand for some property types across Brisbane, with interest rate increases and affordability issues some buyers are being priced out of houses, so instead of compromising on the location to buy, they are looking to compromise on the property type.
According to CoreLogic, total advertised stock levels in Brisbane are 38.2 per cent below the five-year average. Combined with strong levels of interstate migration and relative affordability, Brisbane continues to boom with high demand, which will provide further upward price pressure in the unit market.
This rapid price increase over the last 12-18 months, has positioned Brisbane’s market as the most attractive for property investors, capitalising not only on a long-term perspective (hosting the 2032 Olympic Games), however, yield opportunity as well.
With Vacancy Rates at a record low and rents continuing to rise, this creates a unique opportunity for investors to hedge against inflation.
Source: CoreLogic & PropTrack Home Price Index
admin
https://pacificeastcoast.comBrisbane Emerges As Country’s Strongest Real Estate Market
Australian property prices fell for the first time since the beginning of the pandemic, but Brisbane has bucked the nationwide trend, emerging as the country’s strongest real estate market, according to the PropTrack Home Price Index.
While home prices (including houses and units) fell in May, down 0.11 per cent nationally, month-on month, Brisbane continues to record positive growth.
Brisbane Property Values Snapshot:
- Median value for homes increased by 0.8% from last month
- Median value for units increased by 1.2% from last month
- Median value for dwellings increased by 25.9% over the last year
This is the first month since September 2020, that Brisbane units have increased in value at a faster pace than Brisbane houses on a monthly basis.
While the gap between houses and units in Brisbane has grown considerably, we are starting to see a shift in the demand for some property types across Brisbane, with interest rate increases and affordability issues some buyers are being priced out of houses, so instead of compromising on the location to buy, they are looking to compromise on the property type.
According to CoreLogic, total advertised stock levels in Brisbane are 38.2 per cent below the five-year average. Combined with strong levels of interstate migration and relative affordability, Brisbane continues to boom with high demand, which will provide further upward price pressure in the unit market.
This rapid price increase over the last 12-18 months, has positioned Brisbane’s market as the most attractive for property investors, capitalising not only on a long-term perspective (hosting the 2032 Olympic Games), however, yield opportunity as well.
With Vacancy Rates at a record low and rents continuing to rise, this creates a unique opportunity for investors to hedge against inflation.
Source: CoreLogic & PropTrack Home Price Index
admin
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