Housing Market Insights in Brisbane: August 2021
๐ดBrisbane 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.
๐กThe latest house value index from Corelogic reveals that Brisbane housing prices rose by 2% on a rolling basis for four weeks.
โฌ๏ธIn July, Brisbane house prices increased by 2.2%, up 6% in the past quarter and 15.9% for the previous year.
๐ฒThe current median dwelling value is $589,000, up from just one months ago to $3,000.
โ๏ธThe $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.
๐Brisbane currently has an average price of 419 000 dollars, which stands at 4000 dollars more than a month ago.
๐The south-east of Queensland is Australia’s fastest-growing area with a population of approximately 3.7 million.
๐ฑProjections estimate that by the middle of the following decade, it will reach 5 million.
๐ฝ๐ง๐๐จ๐๐๐ฃ๐ ๐๐๐ง๐ ๐๐ฉ ๐๐๐ข๐๐ฉ๐จ ๐๐ช๐จ๐๐๐ฃ๐ ๐๐ก๐ฎ๐ข๐ฅ๐๐๐จ
๐Housing 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.
๐ฒThe median price is forecast by 2033 at $1.7 million, and is ‘immensely’ enhanced along the Gold and Sunshine coastlines.
โ ๏ธMarket projections for Brisbane
๐NAB predicts that property prices in Brisbane will climb 19.5% in the next 18 months, and that they will rise 4.4% in 2022.
๐According to ANZ experts, house prices in Brisbane would grow 9.5% next year, as cheap borrowing rates and government stimulus trickle across the economy.
๐Now 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.
๐Westpac has updated its property projections and between 2022 and 2023 Brisbane’s real estate prices rose by 20 percent.
