In fact we are still seeing record growth in markets across Australia, including here in Brisbane, according to the latest Domain House Price Report.
But there is more to the growth story than the headline.
While growth is widespread, it’s far from uniform and Domain says growth paths are diverging.
“Momentum is now split more evenly between houses and units across the capitals, with performance diverging by city,” Domain reports.
“Units are outperforming houses in Sydney, Melbourne, Brisbane and Darwin as buyers seek relative value, while houses lead in Adelaide, Canberra, Perth and Hobart.
“Unit growth is strongest where affordability pressures are most acute – accelerating sharply in Brisbane, Perth and Darwin, strengthening in Sydney and Melbourne, but easing in Adelaide, stalling in Hobart and declining in Canberra.”
In fact Brisbane units saw their strong growth since 2007, Domain reports.
Specifically Brissie units shot up 8.1 per cent in the December quarter to reach a median of $770,471, compared to houses which grew 4.5 per cent to reach a median of $1,171,237.
For units that’s a whopping price surge of nearly $60,000, lifting annual gains to 19.3 per cent or $127,887.
This trajectory reaffirms that affordability remains a strong driver of growth, and as buyers find themselves priced out of the housing market, they will gravitate to medium and higher density dwellings.
Charting your own path to growth? View our current listings for sale or talk to us about selling.
