It’ll be another couple of months before the final stats are in but there’s no doubt 2007 will go down as a very strong year for sales prices in Brisbane’s inner suburbs. For example West End’s median house price jumped $200,000 or 41% over the past 2 years, and Spring Hill’s median apartment prices have leapt 40% in the same period. A new Highgate Hill price record was set in early 2007 with a Laura Street house selling for $2.65million. (That mark’s ready to be well and truly broken though, with a riverfront home now on the market chasing offers over $8million!)
In Brisbane City itself the median house price has jumped more than $150,000 or 34% over the past year, after flat-lining for the previous 3 post-boom years. Most of those houses are in the Petrie Terrace precinct and it’s no doubt gaining a boost from the old barracks redevelopment with new cinemas, supermarket and 5 storey commercial offices to be completed this year.