Useful Facts Without Opinions: Brisbane home prices continue strong gains
Brisbane home prices rose 29.7% in the past 12 months, with CoreLogic’s latest National home value index showing we’ve been the fastest growth capital this past year, past quarter and past month.
- Brisbane apartment prices rose another 1.5% in February to now be up 14.4% on the same time last year.
- At a median of $468,000 they’re still just over half the price of a Sydney apartment ($832,000)
- The Index reports Brisbane’s median house prices rose another 1.9% during the month, up a huge 33% for the year.
- While growth has cooled in Sydney and Melbourne, prices are still rising across most of the nation: Adelaide and Hobart were both up 26% in a year.
- The Index showed the nation’s median home price rose 20.6% over the year.
- Despite the price growth, rental yields for a Brisbane apartment remain one of the nation’s strongest at 4.7%, well ahead of the average 3.7%.
CoreLogic’s Director of Research, Tim Lawless: “The cities where housing values are rising more rapidly continue to show a clear lack of available properties to purchase. Total listings across Brisbane and Adelaide remain more than 20% lower than a year ago and more than 40% below the previous five-year average.”
Please share your opinions on Brisbane home prices!