Useful Facts Without Opinions: Brisbane apartment prices up again in June
Brisbane apartment prices rose another 0.8% in June while our houses had no growth, according to CoreLogic’s latest National home value index.
- The median Brisbane apartment price is now just over $500,000, up 3.5% for the quarter.
- While they flat-lined in June Brisbane house prices were up 2.5% over the past 3 months for a median $892,000.
- The rate of growth has slowed in 2022 but we’ve still marked a 26% increase for our dwellings over the past 12 months.
- While our city continues to outperform Sydney and Melbourne, Adelaide and Darwin have maintained higher price growth with June rises of 1.3% and 0.9% respectively.
- The Index showed the nation’s median home price slipped 0.6% in June.
- Despite the price growth, our rising rents have pushed gross yields for a Brisbane apartment to be one of the nation’s strongest at 4.7%, well ahead of the average 3.9%.
CoreLogic’s Director of Research, Tim Lawless: “Since the initial cash rate hike on May 5, most housing markets around the country have seen a sharper reduction in the rate of growth. “Considering inflation is likely to remain stubbornly high for some time, and interest rates are expected to rise substantially in response, it’s likely the rate of decline in housing values will continue to gather steam and become more widespread.”
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