Despite the Nation's housing slump Brisbane's housing market is reaching new heights with a median house price increase of 1.5% which equates to a median of $680,000.
The latest findings are reported from the Real Estate Institute of Queensland Market Monitor report, revealing the capital growth for the 12 months to March.
The report is also showing signs of slowing however, REIQ chief executive Antonia Mercorella says Brisbane’s housing market has recorded 27 straight quarters of capital growth.
“Despite a nationwide trough, the property market in Queensland remains affordable and continues to show signs of sustainable growth when compared to its southern counterparts,” Mercorella said.
Brisbane's softer unit market saw the annual median unit price drop 2 per cent to $441,144 for the period.
▲ Brisbane blue chip suburb Auchenflower has recorded 23.1 per cent growth across the 12-months to March 2019.
So, What Are the Hot Suburb Spots?
Auchenflower, which sits 2.5 kilometres from Brisbane CBD, recorded 23.1 per cent growth over the 12-month period to March this year.
Along with Northgate, Gordon Park, Hamilton and Clayfield which delivered double-digit growth for the period.
“These are areas that are in demand and have the right house at the right price for many buyers,” Mercorella said.
“And not all of those suburbs are blue chip suburbs. There are some great, affordable suburbs that are delivering outstanding growth.
“Home owners in Durack, where the median house price is $445,722, will now have an asset that increased in value by almost 10 per cent over the year to March 2019.”
Brisbane LGA top 10 growth suburbs for houses
SUBURB |
GROWTH |
MEDIAN PRICE |
AUCHENFLOWER |
23.1% |
$1,202,500 |
NORTHGATE |
13.3% |
$725,000 |
GORDON PARK |
12.2% |
$875,000 |
HAMILTON |
11.5% |
$1,450,000 |
CLAYFIELD |
11.1% |
$1,250,000 |
RIVERHILLS |
10.8% |
$527,000 |
NUDGEE |
9.6% |
$642,500 |
WESTLAKE |
9.3% |
$749,500 |
DURACK |
9.3% |
$445,722 |
ALBION |
9.1% |
$827,000 |
Greater Brisbane
The Greater Brisbane housing market, an area that takes in the LGAs of Brisbane, Ipswich, Logan, Moreton Bay and Redland, has been relatively stable across the past 12-months, with the region recording 1.9 per cent growth for the year.
Ipswich recorded a 1.8 per cent increase taking its median house price to $346,000, Logan increased by 1.3 per cent to $400,000, and the standout performer Moreton Bay increased by 2.5 per cent to $450,000.
The analysis shows the unit and townhouse sector across Greater Brisbane saw price declines of 1.5 per cent.
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