Brisbane’s housing market is performing well compared with Melbourne and Sydney, thanks in part to steady jobs growth and interstate migration in the state.
However, Brisbane’s unit market is underperforming, with unit values down by 3.2% over the last twelve months, compared with house values which are up by 4.3%.
The Brisbane housing market continued the trend of modest appreciation, with dwelling values up half a percent over the September quarter.
the value appreciation remains largely confined to the detached housing sector, although unit values also saw a subtle level of growth at 0.1% over the September quarter.
Brisbane house values with a median of $528,000 are now less than half the price of Sydney’s, highlighting the affordability advantages of Australia’s third largest city.
With population growth now ramping up and jobs growth improving the outlook for the Brisbane housing market may have some upside.
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