Brisbane’s growth in dwelling values has remained fairly slow and steady.
Over the past month values have increase by 0.1 percent, to be 0.6 percent higher over the past three months and 2.4 percent higher over the past year.
While neither houses nor units are reporting significant growth, there is a divergence between the two property types, with house values 3.2 percent higher over the past year while unit values have fallen by 1.2 percent.
Brisbane has well and truly underperformed growth in Sydney and Melbourne over recent years, and dwelling values of 46 percent lower than those in Sydney and 32 percent lower than those in Melbourne.
The housing market outlook remains positive given this affordability gap ,and the recent improvement in job creation across Queensland, which may prove enough to attract an increasing number of residents out of less affordable housing markets in New South Wales and Victoria.
YOU MAY ALSO BE INTERESTED IN READING:
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.