Useful Facts Without Opinions: Brisbane home prices rise again
Apart from Melbourne, all of our capital cities have now joined Brisbane home prices in a post-COVID turnaround. That’s according to the latest Core Logic Hedonic Home Value Index.
- Brisbane’s dwellings rose a further 0.5% in October (the 2nd month of increase following 4 months of price drops). That’s up 3.5% on the same time last year and up to a record high median price of $510,353.
- The Index reports Brisbane’s median apartment prices dipped 0.1% during the month, while our houses were up 0.6%.
- Home prices down 0.2% in Melbourne and really gained momentum in Adelaide and Darwin (up 1.2% for the month) and Canberra and Hobart (up 1%)
- 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 3.3% rental yield.
Core Logic says, “Consumer confidence has consistently improved since the virus curve has once again flattened and Australians respond
positively to measures announced in the federal budget”. “Alongside this we are seeing persistently low advertised stock, which has supported price growth.“
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