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.
CoreLogic has released their newest housing market update for March 2019.
The twelve months ending February saw values dip half a 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 labor markets remain relatively loose and credit availability is tighter than it used to be.
Although value 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.
Our Metropole Brisbane team has noticed a significant increase in local consumer confidence with many more homebuyers and investors showing interest in property.
At the same time we are getting more enquiries from interstate investors there we have for many, many years.
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