The Brisbane Property Market: A Place of Contradictions

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English - July 10, 2023 03:11 - 4 minutes - 6.53 MB
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The Brisbane property market is a place of contradictions: it is currently a national leader on price growth at a time when sales activity is below par.

This dichotomy arises because of one of the dominant factors driving real estate in this era of higher interest rates: shortages of everything.

There is a serious shortage of listings of properties for sale, an under-supply of new dwellings under construction and a chronic shortage of homes for rental.

These imbalances in the Brisbane market are pushing up sale prices and rentals.

CoreLogic’s Home Value Index published on 3 July indicates that Brisbane house prices rose 1.3% in June, with prices up 3.0% in the June Quarter.

These growth rates are the second best in the nation, after Sydney.

At current growth rates, Brisbane will soon overtake Melbourne in terms of its median house price.