Useful Facts Without Opinions: Brisbane home prices rose in September
Brisbane home prices staged a turnaround in September, shrugging off some of the COVID caution to record a 0.5% increase, according to the latest Core Logic Hedonic Home Value Index.
- Last month saw home prices down just 0.1% across the nation (August saw a 0.4% drop)
- Brisbane’s dwellings rose 0.5% in September (following drops in each of the last 4 months). That’s now up 3.8% on the same time last year.
- The Index reports Brisbane’s median apartment prices rose 0.7% during the month (a big improvement on August’s 0.3% dip), while our houses were up 0.4% after being flat the previous month.
- Brisbane’s better COVID situation saw us again outperformed the big capitals with home prices down 0.9% in Melbourne and 0.3% in Sydney. All other capital cities recorded small price rises.
- Rental yields for a Brisbane apartment are reported at 5.2%, well ahead of the national average of 4%. Sydney investors have the lowest of the capital cities with a 3.4% rental yield.
Core Logic says, “Low advertised stock levels are a key factor supporting housing values. Nationally, new listing numbers remain 22% lower than a year ago.”
Please share your opinions on Brisbane home prices!