Brisbane's sales market, South Brisbane and South Bank

Have prices dropped during 2008?

A recent Landmark White media release dated September 18, noted a shift downwards in both sentiment and median prices in 2008.  Locally in South Brisbane we’ve reviewed the stats and whilst apartment sales are down (with 65 sales January to June 2008) prices are up slightly with a 1.16% increase from the 2007 median of $430,000.  Interestingly, there have only been 2 houses sold in South Brisbane during the same period.