The best performing apartment market over the last decade

Which was the best performing apartment market over the last decade?

Brisbane based Place Projects conducted a comparison of Australia’s east coast apartment markets: Brisbane, Sydney and Melbourne.

Their key findings:

• The graph below clearly shows a widening gap occurring in median apartment prices between the Brisbane, Sydney and Melbourne apartment markets.
• Median apartment prices for Brisbane, Sydney and Melbourne now sit at $391,000, $750,000 and $542,800 respectively and is easily the largest gap recognised in over 10 years.
• Whilst the Brisbane apartment market has remained flat, there has been growth seen in both the Sydney and Melbourne apartment markets.
• Over the last 12 months the Melbourne apartment market has shown the strongest growth in median prices, recorded at 12.5%. The Sydney apartment market was next with 11.9% growth, whilst the Brisbane apartment market declined in median price by 1%.  
• Over the last 10 years ending June 2017, the Sydney apartment market has increased in median price by 60%. This is followed by the Melbourne apartment market which has increased by 46%. However, the Brisbane apartment market has increased by only 8% during this time.
• Brisbane Apartments have been on average, 43% more affordable than Sydney apartments and 15% more affordable than Melbourne apartments over the past 10 years ending June 2017.
• At the current median price of $391,000, Brisbane apartments are 92% cheaper than Sydney apartments and 39% cheaper than Melbourne Apartments.

Market Snapshot

Source: Place Projects 

About Michael Yardney Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.