Useful Facts Without Opinions: Brisbane home prices spike 2.4% in March
Brisbane home prices spiked 2.4% in March as CoreLogic’s National home value index rose at its fastest pace in 32 years.
- Brisbane’s dwellings reached a new median high price of $548,260, now up 6.8% on the same time last year. It’s been a big post-COVID turnaround with Brisbane prices rising 4.8% already in 2021.
- The Index reports Brisbane’s median apartment prices rose another 1% during the month, while our houses were up a strong 2.6%.
- Home price growth was again strongest in Sydney at 3.7% and Hobart (up 3.3%) with the Index showing the the nation’s median rose 2.8%.
- Rental yields for a Brisbane apartment are reported at 5.2%, still well ahead of the national average of 3.9%.
Core Logic’s Director of Research, Tim Lawless: “The ratio of sales to new listings is tracking at around 1.1, implying for every new listing added to the market, 1.1 homes are sold. Such a rapid rate of absorption is keeping overall inventory levels low and adding to a sense of
FOMO amongst buyers.”
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