Useful Facts Without Opinions: Brisbane home prices grow 2nd fastest in nation
Brisbane home prices rose 27.4% in 2021, with CoreLogic’s latest National home value index showing big price jumps for both our apartments and houses.
- Brisbane apartment prices rose another 1.6% in December to now be up 12.7% on the same time last year. This rate of growth has accelerated in the past 6 months.
- At a median of $451,000 they’re still just over half the price of a Sydney apartment ($835,000)
- The Index reports Brisbane’s median house prices rose another 3.1% during the month, up a huge 30.4% for the year.
- Brisbane’s home price growth over the past year was pipped only by Hobart which rose 28.1%. Third place went to Sydney with 25.3% growth.
- The Index showed the nation’s median home price rose 22.1% over the year.
- Rental yields for a Brisbane apartment remain one of the nation’s strongest at 4.8%, well ahead of the average 3.7%.
CoreLogic’s Director of Research, Tim Lawless: “Brisbane and Adelaide, along with regional Queensland, are the only broad regions where there is no evidence of value growth slowing just yet, with the monthly rate of growth reaching a new cyclical high in December. These regions show less of an affordability challenge relative to the larger capitals, as well as better support for housing demand with Queensland in particular showing strong interstate migration.”
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