Brisbane’s house prices have hit an all-time high, with the median reaching $792K. This represents one of biggest quarterly price hikes seen since 1996! Our research team have uncovered that last calendar year Brisbane house prices grew by a staggering 25.7% or $162,181. To save you the math’s, that equates to $444 per day.
On the back of these numbers, it is no wonder many are predicting Brisbane property prices to surge ahead of its capital city counterparts.
2021 saw house prices across Sydney and Melbourne exceed a median value of $1,000,000. Therefore, we predict that Brisbane is perfectly positioned to capitalize on interstate interest with many southerners looking at alternatives to the Sydney and Melbourne markets.
This has been confirmed by domain who have reported that 26% of property enquiries over the past quarter have been from interstate-based purchasers.
When doing a direct comparison between Sydney and Brisbane, you can begin to understand the attraction to purchasing in the river city. If someone sold their Sydney home at the median price of $1.6 million, they would quite literally get into the Brisbane market for under half of that.
Whilst supply starts to rise in other parts of the country, Brisbane is still experiencing record lows levels of listings catapulting prices forward with no sign of momentum slowing.
Recently ANZ have also updated their predictions for Brisbane to an impressive 16% forecasted growth across the Brisbane market in 2022.
We see this as an incredible opportunity for our clients to capitalize on a dynamic market and lean on our decades of experience to acquire and position themselves financially to springboard into a tremendous financial position.
Blue Skies,
Leonie Fitzgerald
