Useful Facts Without Opinions: Brisbane apartment prices gaining momentum
Brisbane’s apartment price growth stepped up a notch in March, with CoreLogic’s latest National home value index showing they’re now 15.1% higher than a year ago.
- The median Brisbane apartment price is now just under $480,000, up another 1.6% in March compared with a 1.5% rise in February.
- Brisbane’s median house prices are still growing strongly, up 2.1% during the month and 32% for the year.
- Our city again led the nation for growth and our combined dwellings monthly jump of 2% only had Adelaide (1.9%) anywhere near. Sydney and Melbourne had small dips so the Index showed the nation’s median home price rose just 0.7% in March.
- 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: ““With higher inventory levels and less competition, buyers are gradually moving back into the driver’s seat. That means more time to deliberate on their purchase decisions and negotiate on price. In contrast, advertised stock levels in Brisbane and Adelaide remain more than 40% below the previous five-year average levels and around 20% to 25% down on a year ago.”
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