Useful Facts Without Opinions: Brisbane home prices up in November
Values rose across Australia in November with Brisbane home prices up for the third month in a row. That’s according to the latest Core Logic Hedonic Home Value Index.
- Brisbane’s dwellings rose a further 0.6% in November. After 3 months of post-COVID growth, that’s now up 3.2% on the same time last year.
- Our median price set another record high of $515,267.
- The Index reports Brisbane’s median apartment prices rose 0.2% during the month, while our houses were up 0.7%.
- Home price growth was strongest in Canberra and Darwin in November (both up 1.9%), with the Index showing a rise of 0.8% nationally.
- Rental yields for a Brisbane apartment are reported at 5.1%, well ahead of the national average of 4%.
Core Logic says, “Record low interest rates are one of the primary factors supporting a lift in buyer numbers. Improving economic conditions and containment of the virus have lifted consumer spirits to higher than pre-COVID levels.”
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