The trend is revealed in the latest Domain House Price Report which showed Brisbane house values increased slightly in the March quarter, reversing the decline from the pandemic peak.
It’s the affordable end of the market that’s driving this reversal says Domain Chief of Research Dr Nicola Powell.
“Overall, Brisbane has seen a broad uplift in prices this year – the sharpest improvement of all the capitals, actually – but I think what we’re seeing here at a suburb level is that there’s a certain segment of Brisbane’s market, the more affordable segment, that has captured a lot of that uplift,” Dr Powell said.
“When you have tight rental markets and a lack of security in renting, people fast-track their decisions, even lean on family members to make that leap earlier, and you can absolutely understand that if you’re seeing 15 to 20 per cent hikes in rent.”
On the north side, houses in Upper Caboolture have set the fastest growth rate, clocking up a whopping 47% increase in the past 12 months to hit a median price of $845,000.
Closer to the middle ring, Bracken Ridge units have risen 27.7% to reach a median of $465,000 and Brendale houses have shot up 23.4% to reach $390,000 (that’s still a bargain!).
Other high performers are scattered around the bayside burbs, with a range of price points offering options for entry level to million-dollar-plus buyers.
Check out the north side suburbs which have set a cracking pace for growth over the past 12 months.
- Upper Caboolture houses, 47%
- Bracken Ridge units, 7%
- Margate units, 8%
- Brendale houses, 4%
- Deception Bay units, 7%
- Newport houses, 4%
- Caboolture South houses, 6%
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