Across Queensland there are 16 suburbs where prices are cheaper than they were a decade ago and 125 burbs where prices have risen $150,000 or less, reports realestate.com.au.
Here in Brissie our inner city unit market spent many years devouring a massive oversupply.
That led to sluggish growth in some very sought after areas.
The following markets have all seen a rise of less than $50,000 over the past decade:
- Bowen Hills unit median price is now $525,000
- Milton units, $572,500
- Fortitude Valley units, $516,000.
Houses have typically seen much higher growth, but not all Brissie burbs have experienced the same level of gains.
Park Ridge houses have a median price of $735,000 which is just $133,500 more expensive than a decade ago.
While most areas that are cheaper than they were a decade ago are in the regions, some in boom-and-bust-mining locations, there is one in the Greater Brisbane area.
Units in Brassall, a suburb in Ipswich, are cheaper than they were a decade ago. Median unit prices are now $160,664.
So it goes to show that median growth figures at the city-wide level can be very misleading.
If you’re looking for value or growth potential it always pays to get granular knowledge from local agents so you can be sure you understand the ‘mini markets’ in the broader area.
Looking to make a move in a moving market? View our current listings for sale or talk to us about selling.