RESIDENTIAL PROPERTY
BRISBANE’S median dwelling value has knocked Melbourne out of the top three, with the Queensland capital seeing 50.2% growth since the onset of the global pandemic.
According to the latest research from CoreLogic, Brisbane’s median dwelling value hit $787,217 at the end of 2023, now coming into third place after Sydney and...
In December, Greater Brisbane surpassed Melbourne’s median value for the first time since July 2009, by around $7,000...
With Melbourne values climbing just 11.0% since the onset of the COVID-19 pandemic in March 2020, which was the most moderate growth of any capital city market...
“The city’s appeal amid an increase in remote work helped fuel strong population growth, increasing housing demand, driving down supply and making it a...
“The normalisation of remote work for many professionals made interstate migration to Queensland more feasible, while Melbourne’s extended lockdowns from...
According to ABS data, w net interstate migration to Queensland reached a record high of 51,500 in the year to March 2022, with net interstate migration to...
Despite a higher combined dwelling value, both Brisbane’s house and unit values still below Melbourne’s by $72,000 and $49,000 respectively...
This is due to Melbourne’s higher share of units, with units comprising 33.8% of the market compared to just 25.6% of Brisbane’s dwellings...
This difference in composition of housing stock could become more equal in the near term, with ABS data from June 2023 revealing Victoria has 1.4 units under construction to...
“Brisbane was not the only city to ‘shift ranks’ in December, with the median dwelling value in Perth inching above the median Hobart dwelling value in the month...
“However, these new rankings may be tested in the months ahead. Brisbane remains a seller’s market, but the pace of monthly growth in values has eased slightly, from 1.5% in...