The median dwelling price for the greater Brisbane area is now a shade over $760,000, according to the latest PropTrack Home Price Index.
“Home prices in Brisbane have already regained 2022’s price falls and are rising at a fast pace, jumping 0.39% in September to hit a new price peak. Prices are now 5.82% higher than a year ago,” reports realestate.com.au.
The bounce back has happened quicker than some may have anticipated following the falls of 2022.
This resilience shows why Brisbane remains a popular market for investors.
While our relative affordability means first time and family buyers can still find good value, particularly in middle ring and outer suburbs.
Looking ahead, PropTrack is tipping continued favourable growth conditions so long as employment levels remain strong and there are no major rate rise surprises.
“Choice for buyers remains limited in Brisbane, Adelaide, and Perth, sustaining buyer competition and solid selling conditions, with prices hitting fresh peaks in each of these markets in September,” it reports.
“Looking ahead, population growth is rebounding strongly, and with a shortage of new homes, prices are expected to rise and more markets will likely hit peak levels after recouping 2022’s fast falls.”
Want to make a move in a solid market? View our current listings for sale or talk to us about selling.
