Useful Facts Without Opinions: Brisbane apartment prices rise 1.2% in May
Brisbane home prices rose 10.6% over the past year, with CoreLogic’s latest National home value index confirming our city’s continued strong market.
- Brisbane apartment prices rose 1.2% in May to now be up 4.6% on the same time last year.
- At a median of $412,000 they’re just over half the price of a Sydney apartment ($782,000)
- The Index reports Brisbane’s median house prices rose another 2.2% during the month, up 11.9% in a year.
- Home price growth was biggest in Hobart at 3.2% and Sydney at 3%. The Index showed the nation’s median home price rose 2.2%.
- Rental yields for a Brisbane apartment remain one of the nation’s strongest at 5.1%, well ahead of the average 3.9%.
Core Logic’s Director of Research, Tim Lawless, told the Australian Financial Review unit prices were likely to strengthen further as house prices rise to unaffordable levels. “I think we’ll see demand diverting to a more affordable sector of the marketplace like apartments”.
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