To be specific, the 12 months to February saw values drop 0.5 per cent, reports Property Update. So if you didn’t notice it, you can be forgiven.
Sydney and Melbourne have seen dramatic price drops after soaring to giddy and unstainable heights in recent boom time years.
Brisbane however has enjoyed steady growth. So should we anticipate a drop in prices here? Not one worth writing about.
“The weaker conditions may be surprising considering the ramp up in population growth and relatively affordable housing prices, however labour markets remain relatively loose and credit availability is tighter than it used to be,” says Property Update.
“Although values have trended lower over the past year, we aren’t expecting the Brisbane market to move through a substantial correction considering underlying demand remains strong and housing affordability is relatively healthy.”
That’s code for ‘prices are really not doing much at all’.
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