For the most part, growth has been at a fairly stable pace, contributing to an average growth rate of 3% in the three months to June, according to the latest Herron Todd White Month in Review.
But some Brissie burbs have clocked up price growth that is reminiscent of the pandemic property boom.
Prices in five suburbs have spiked around 10% from January to June according to PropTrack data, reports news.com.au.
Check out the hot steppers for house price growth in Brisbane:
- Albion 11.3%
- Nundah 10.2%
- Sunnybank Hills 9.8%
- South Brisbane 9.5%
- Runcorn 9.2%
This growth places them in the top #10 suburbs for price growth across Queensland.
“The market has recovered quite quickly in 2023 and it has really been quite surprising,” said PropTrack senior economist Paul Ryan.
“That recovery has been gaining pace with some strong momentum, but what we are seeing is more sustainable growth which has allowed both buyers and sellers to adjust to a market that has become more stabilised.”
As the pause in interest rate rises has helped give buyers more confidence in their buying power, we’ll likely see continued buyer activity.
Coupled with historically low levels of housing stock on market and price growth fundamentals are looking solid.
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