TWO SPEED HOUSING MARKET FAVOURS BRISBANE

BRISBANE’S housing market is being sheltered from a more severe national downturn in home values with a two-speed housing market favouring regions with enhanced affordability, larger home offerings and lifestyle trends.

New data released on Monday shows Brisbane house prices grew 0.22 per cent in April, more than halving the rate of growth from March, however the city continues to lead the country for annual price growth, with home values increasing 26.27 per cent in the 12 months to the end of April. However Sydney, Hobart and regional Western Australia all reported negative growth of between 0.1 and 0.44 per cent in April.

PropTrack’s second national home price index measures monthly changes in home values across the country based on sales results on realestate.com.au and valuer-general data. The report found Brisbane was still among the most affordable in the country for houses, with a median house value of $762,000 compared to Sydney’s $1.259m and Melbourne’s $902,000. Brisbane unit values grew by 0.1 per cent to $447,000 in April while Sydney, Adelaide, Perth, Hobart and the ACT all recorded negative apartment growth.
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