Brisbane's House and Unit Market - August 2018
Brisbane’s steady and sustainable growth over the past five years suggests that unlike other capital cities, there is no boost to come - but rather, there is still room for growth.
Annual rate of capital gains has weakened as Brisbane has seen a decrease in the annual capital gains from 2.9% a year ago to 1.2% over the past 12 months. Therefore, while Brisbane is the best performing in capital growth, the results are mild and this is only the case as other capital cities have slowed down.
Within the unit market, construction peaked almost two years ago. Since then, unit supply is winding down and population growth in the capital city is ramping upwards, we may see local unit market staging a gradual improvement. However, unit values need to rise by 11% before it returns to the previous nominal high which we saw almost a decade ago.
According to Corelogic, 23 Brisbane suburbs median house price is $1 million. Below is a summary of West End and surrounding areas’ markets.
Median Value of Current House Market:
- West End: $1,045,682.
- Highgate Hill: $1,076,921.
- South Brisbane: $1,157,228.
Median Value of Current Unit Market:
- West End: $479,611.
- Highgate Hill: $453,643.
- South Brisbane: $439,973.
- Brisbane City: $479,457.
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