Housing Market Insights in Brisbane: August 2021

🌴Brisbane has traditionally moved slowly as part of a pandemic boom in home prices, which analysts think can drive another 15 per cent hike in the following year and more than double the number of house prices by the start of 2032 Olympic Games.

🏡The latest house value index from Corelogic reveals that Brisbane housing prices rose by 2% on a rolling basis for four weeks.

⬆️In July, Brisbane house prices increased by 2.2%, up 6% in the past quarter and 15.9% for the previous year.

💲The current median dwelling value is $589,000, up from just one months ago to $3,000.

✔️The $675,000 median house price is still attracting cross-state migrants from Sydney’s larger markets, with a median of $1.25 million, and Melbourne at $945,000.

💙Brisbane currently has an average price of 419 000 dollars, which stands at 4000 dollars more than a month ago.

🔐The south-east of Queensland is Australia’s fastest-growing area with a population of approximately 3.7 million.

🌱Projections estimate that by the middle of the following decade, it will reach 5 million.

𝘽𝙧𝙞𝙨𝙗𝙖𝙣𝙚 𝙈𝙖𝙧𝙠𝙚𝙩 𝙇𝙞𝙢𝙞𝙩𝙨 𝙋𝙪𝙨𝙝𝙞𝙣𝙜 𝙊𝙡𝙮𝙢𝙥𝙞𝙘𝙨

🏘Housing prices from Brisbane exceeded the median $1 million well before the Olympics in 2032, with neighborhoods in the vicinity of sites inclined to reach $3.9 million.

💲The median price is forecast by 2033 at $1.7 million, and is ‘immensely’ enhanced along the Gold and Sunshine coastlines.

⚠️Market projections for Brisbane

👉NAB predicts that property prices in Brisbane will climb 19.5% in the next 18 months, and that they will rise 4.4% in 2022.

👉According to ANZ experts, house prices in Brisbane would grow 9.5% next year, as cheap borrowing rates and government stimulus trickle across the economy.

👉Now CBA is expecting Brisbane’s housing price to grow by 16.6% compared to 13.7% in Sydney, and 12.4% in Melbourne by December 2022.

👉Westpac has updated its property projections and between 2022 and 2023 Brisbane’s real estate prices rose by 20 percent.