Brisbane has become one of the best performing capital city housing markets, not because growth rates have accelerated, but simply because most other cities have slowed down at a faster rate.
Core Logic has released their newest housing market update for August 2018.
The first seven months of the year have seen Brisbane dwelling values rise by 0.4% – a fairly mild result, but it`s the second highest growth rate after Hobart where values are 5.8% higher over the same time frame.
Importantly, the local unit market has been the main driver of year to date growth, with Brisbane unit values up 1.1% over the first seven months of the year while house values are up a lower 0.3%.
While the recovery in Brisbane unit values seems to be in an carly stage, the construction cycle peaked almost two years ago.
With supply winding down and population growth ramping up, we almost 11% before returning to the previous nominal high which was more than a decade ago.
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