Brisbane house price has hit an all-time high.
The median brisbane house price is peaking at $673 000, which Real Estate Institute of Queensland (REIQ) says is a very good sign.
“It tells us that this market has well and truly recovered from the post GFC slump” CEO, Antonia Mercorella, said.
The latest Market Monitor report by REIQ revealed Brisbane’s median house price has increased 2.5% in the past year and 30% over five years.
The top growth suburbs across the city’s south include Holland Park West, Manly West and Carindale.
Brisbane’s median house price has hit an all-time high. The median house price is peaking at $673 000, which Real Estate Institute of Queensland (REIQ) says is a very good sign. (9News)
In the city’s North, it’s Mitchelton, Stafford Heights and McDowall.
“Those suburbs are really popular with families in particular. And what they demonstrate is that there is good affordability.” Ms Mercorella said.
David Conboy is currently selling a five-bedroom, two-bathroom home at Mitchellton, asking $675,000.
He is not surprised the suburb is booming.
Antonia Mercorella, said the post-GFC slump is over in the Brisbane property market. (9News)
“In this area we have a fantastic access to infrastructure to local schools, shops and public transport as well,” the Harcourts Property Sales and Marketing Consultant said.
A bit further out, the best performer in Greater Brisbane has been Caboolture South.
It has seen an increase of 30.4% to a median house price of $327 000.
Brisbane’s median house price has hit an all-time high. (9News)
“With the Bruce Highway improvements, we should continue to see those suburbs performing strongly, into the future” Ms Mercorella said.
Across Queensland, the coastal markets have seen the most growth.
Noosa on the Sunshine Coast taking out the top spot, up 6.9% to a median house price of $695,000.
It takes the title from the Gold Coast, where the median house price sits at $622,000.
“They offer just such a good lifestyle. You’re close to the water, close to nature” Ms Mercorella said.