Brisbane’s median house values increased 50.9 per cent in the two years to April 2022, but since then, they’ve increased just 6.1 per cent.
Units have had a steadier growth spurt, jumping 21.9 per cent and 20.8 per cent over the same periods, reports corelogic.com.au.
The house price trajectory in particular highlights the impact of interest rate hikes, which had the effect of dampening growth – but not stopping or reversing it.
”Demand for housing in Australia remains extremely high in many areas particularly with the added pressure of record high migration levels, persistently tight rental conditions and an undersupply in dwellings,” says CoreLogic research director Tim Lawless.
“These figures show buyers are determined to get their foot in the door of home ownership irrespective of rate hikes and the rising cost of living.”
With prices holding up well sellers are enjoying strong demand and good outcomes for homes that represent good value. The slower pace of growth is also easing pressure on sellers who can sell with greater confidence they won’t be priced out when buying back into the market.
Thinking of selling while the market remains buoyant? Talk to us about selling or find out how much your property is worth.
