Useful Facts Without Opinions: Brisbane home prices rise 29% in a year
Bucking a national easing of growth in values, Brisbane home prices increased faster in January, now up 29.2% over the past 12 months. CoreLogic’s latest National home value index reported the following:
- Brisbane apartment prices rose another 1.4% in January to now be up 13.8% on the same time last year.
- Despite the rapid growth, at a median of $458,000 they’re still more than $100,000 cheaper than apartments in Hobart, Melbourne and Canberra, while the median price for a Sydney apartment is $838,000.
- The Index reports Brisbane’s median house prices rose another 2.5% during the month to $810,000.
- Brisbane’s January home price growth was the highest in the nation, with Adelaide the other standout city.
- The Index showed the nation’s median home price rose 22.4% over the year.
- At 4.8% the rental yields for a Brisbane apartment remain well ahead of the big capital cities and the national average 3.7%.
CoreLogic’s Director of Research, Tim Lawless: “In Brisbane and Adelaide, housing affordability is less challenging, advertised stock levels remain remarkably low and demographic trends continue to support housing demand, especially across South East Queensland.”
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