Brisbane - March Market Update

Brisbane housing values have held reasonably firm over the past few years. However, recently market conditions have softened a bit and the annual change in values has turned negative for the first time since 2012.

The 12 months ending February saw values dip a half percent, with the fall reflected across both houses and units.

The weaker conditions may be surprising considering the ramp up in population growth and relatively affordable housing prices. However, labour markets remain relatively loose and credit availability is tighter than it used to be.

Although values have trended lower over the past year, we aren’t expecting the Brisbane market to move through a substantial correction considering underlying demand remains strong and housing affordability is relatively healthy.