This follows the massive 64 per cent growth Brissie has seen since the pandemic, placing our laidback river city in the capital growth fast lane.
Latest forecasts are tipping a continued high growth highway to persist into 2025.
“Despite more homes being listed for sale and rising prices making property less affordable, the Brisbane property market is expected to keep steaming ahead over the balance of 2024 and well into 2025,” reports Property Update.
“A slowdown in construction has hampered the supply of new housing, concentrating demand on existing properties.
“Both buyer and seller confidences increased in the early part of this year, with the thought that potential rate cuts could boost borrowing capacity, giving buyers more money to spend.”
Demand remains high for inner and middle ring suburbs, while cheapies in the bottom quartile of the market continue to attract strong competition from buyers seeking affordability in a rising market.
Prices in the cheapest quartile of the Brissie market are now more than 30 per cent higher than the previous peak in 2022.
By comparison prices in the middle half of the market are just 15 per cent higher and those in the top quartile are less than 10 per cent higher.
So where should you park your money? The tip from Property Update is to invest where wage growth can sustain continued price growth, including in the popular middle ring burbs.
“This means investing in the more affluent inner-ring suburbs and the gentrifying middle-ring suburbs of Brisbane which will outperform the cheaper suburbs, where residents will still find it difficult to afford to buy a home,” it says.
Want to make a move in a solid market? View our current listings for sale or talk to us about selling.