Brisbane's Unit Market Sees Growth

According to the Queensland Market Monitor by REIQ, Queensland’s unit market continued facing more challenges than the house market.

The Queensland unit median price slipped the small amount of 0.1% in the June quarter, to $394,500.

The good news was that the Queensland unit market held steady over the past year at an annual median price of $400,000. The Gold Coast, the Sunshine Coast, Redland, Logan, Townsville.

The Report declared there was good news for the Greater Brisbane unit market as it grew over the June quarter by 1.3 per cent, to a median of $405,000.

Over the medium term, the Greater Brisbane unit prices grew a modest 5.4 per cent, from $388,900 in June 2013 to $410,000 in June 2018.

Greater Brisbane median days on market for units increased slightly for the past year, to 63 days in May 2018. This was a sign that the unit market continued working in favour of buyers.

Brisbane CBD median unit price has seen a 0.7% increase over the period, a 2.2% decrease since 2017 and an increase of 7.6% since 2013.

West End’s unit market has seen a 15% decrease in median unit price over the quarter despite a 3.8% increase over the annual period and 3.5% increase over five years.

South Brisbane’s median unit price has seen a 9.6% decrease over the recent quarter despite a 16.2% increase over the year and 30.8% increase over five years.

Highgate Hill have seen a 16.1% annual decrease in the median unit price, while achieving a 3.1% increase since 2013.