The Brisbane property market has rebounded from earlier falls, as Domain data shows that dwelling values have increased over the third quarter of the year.
House prices increased by 0.4%, bringing the median value to just under $600,000. And unit values grew by 1.7%, with the median now sitting at $383,000. This is the first period of growth for units since mid-2019.
Prices in Brisbane have proven resilient in the face of COVID-19 and its economic fallout. Domain’s Buyer Demand Indicator shows that houses remain a strong favourite for home buyers, with demand rising post-lockdown. Demand for units remains slightly higher than last year, with investment stock most likely to be impacted. Which makes sense, considering that international travel remains restricted.
Overall, things are looking great for Brisbane. First-home buyers are taking advantage of incentives in droves, and those with secure incomes are being tempted by historically-low interest rates which are making homes more affordable.