Looking at the property charts over the past two decades shows an equally spellbinding performance for Aussie property prices.
Brisbane residential property has sky-rocketed 169 per cent over that time, according to the Australian Property Institute’s inaugural Valuation Report.
This places us in equal fourth place with Melbourne for price growth over that period.
But which Aussie cities claimed the top spots? The answers might surprise you.
Sydney was in third place with 171 per cent.
Hobart took second place with 172 per cent.
And … wait for it … Adelaide saw the highest growth over the past 20 years notching up a staggering 175 per cent.
Factors including affordability and the pandemic played a key role in shifting property markets over this period, says Property Update. Specifically:
“Affordability pressures drove buyers to more reasonably priced markets. Lifestyle changes (especially post-COVID) accelerated interest in secondary cities. Government and infrastructure investment in places like Adelaide and Hobart improved liveability and employment options,” it explains.
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