Housing Market Insights in Brisbane: September 2021
ɪɴꜱɪɢʜᴛꜱ ɪɴᴛᴏ ᴛʜᴇ ʙʀɪꜱʙᴀɴᴇ ʜᴏᴜꜱɪɴɢ ᴍᴀʀᴋᴇᴛ ꜰᴏʀ ꜱᴇᴘᴛᴇᴍʙᴇʀ 2021
🌏The rate of price growth in Brisbane has remained stable after reaching a peak in March this year, when values rose 2.4 percent over the month.
☎The city was the third-fastest in the country in August, trailing only the much smaller markets of Canberra (up 2.2%) and Hobart (up 2.3%).
💛The increase in dwelling prices in August was unchanged from July, while house prices moderated over the month, losing a little steam as the apartment market surged.
🔺According to the most recent Corelogic data, property values rose 2% in August and are now up 18.3% year on year.
💲The current median price for a home is $612,000, up $14,000 from the previous month.
🛤Brisbane house prices rose by 2.1 percent in August, a slight decrease from the 2.2 percent increase in July, to rise 6.7% for the quarter and 20.2 percent for the year.
☘The average Brisbane unit is now selling for $425,000, a $6000 increase over the previous month; however, the growth gap between houses and units continues to widen.
⏰Experts now predict that the post-pandemic boom will drive another 15% increase in house prices in the coming year, with a likely median of $1.5 million by the time the Olympic Games begin in 2032.
⚜The Olympics will test the limits of Brisbane’s market.
😀Brisbane house prices are expected to reach the $1 million mark well before the 2032 Olympics, with suburbs near venues reaching $3.9 million.
☝️According to PRD Research, the median price will reach $1.7 million by 2033 and will be “immensely” boosted on the Gold and Sunshine coasts.
