Median house prices grew by $22,000 in the three months to June, representing a 2.1 per cent increase on the previous quarter.
That takes median house prices to $1,060,311, according to the Domain House Price Report.
Unit prices clocked up an even higher rate of growth, jumping 3.6 per cent over the same period to reach a median price of $678,772.
The experts are tipping continued growth.
“We expect prices are still going to rise,” Domain chief of research and economics Dr Nicola Powell said.
“We have got improved buyer confidence, we’ve seen a slight lift in the auction clearance rate and there’s a strong expectation that the cash rate will lower in August which will [be] setting the stage for a strong spring.”
For homeowners and investors already in the market this means healthy capital gains are likely to continue.
Sellers can be almost guaranteed to pocket a profit in conditions like these.
Meanwhile buyers, particularly first timers, can face a daunting task but should remember that the Brisbane property market is made up of diverse mini markets and property types with vastly different price tags. So talk to local agents to understand where you can get best bang for your buck. And once you’re in the market you can enjoy future gains
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