Greater Brisbane property prices continued to decline in the September quarter, but the fall in house prices was marginal relative to the ongoing decline for units. Brisbane is now the fourth most affordable unit market of the Australian capital cities.
Brisbane was one of only two capital cities to record house price falls over the quarter and year. The median house price nudged down 1.0 per cent in the quarter to $562,847, falling by 1.8 per cent over the year.
Brisbane units fell 5.6 per cent over the year, making it the steepest annual drop in just over 18 years. Unit prices are 9 per cent below the 2016 peak, representing a $37,000 reduction. Increased affordability has allowed buyers to purchase at a six-year low, with the median price falling to $375,179.
The ongoing decline in units has largely been explained by high levels of supply - many developments are still under construction. This has moderated from the 2016 peak construction levels but remains above the 15-year average.
Demand and cyclical patterns are also putting downward pressure on Brisbane prices. Queensland has the highest amount of interstate migration, but the number of new overseas residents is well below that of NSW and Victoria. Heightened interstate interest has not been enough to counter the amount of new unit construction.
As prices bottom out across Sydney, interstate and investor interest in Brisbane property could contract. However, Domain data shows inquiry from Sydney and Melbourne continues to grow.
A similar divergence in property performance was seen in the Gold Coast. Unit prices were flat over the quarter, while the house prices increased by 1.2 per cent. In the Sunshine Coast, house prices increased 0.3 per cent in the September quarter, while unit prices fell 0.1 per cent.
Median Price
September 2019 QoQ Change
HOUSES
-1.0%
Median Price $562,847
UNITS
-3.4%
Median Price $375,179
Regional QLD data
| HOUSES | SEP-19 | SEP-18 | SEP-14 | YOY | 5-YEAR |
|---|---|---|---|---|---|
| Brisbane | $666,500 | $675,000 | $568,000 | -1.3% | 17.3% |
| Bundaberg | $284,500 | $295,000 | $289,000 | -3.6% | -1.6% |
| Cairns | $420,000 | $415,000 | $385,000 | 1.2% | 9.1% |
| Cassowary Coast | $250,000 | $280,000 | $245,000 | -10.7% | 2.0% |
| Central Highlands | $286,000 | $257,655 | $342,000 | 11.0% | -16.4% |
| Douglas | $500,000 | $417,500 | $360,750 | 19.8% | 38.6% |
| Fraser Coast | $329,975 | $324,000 | $307,000 | 1.8% | 7.5% |
| Gladstone | $285,000 | $270,000 | $385,000 | 5.6% | -26.0% |
| Gold Coast | $627,500 | $626,500 | $505,000 | 0.2% | 24.3% |
| Gympie | $333,500 | $335,000 | $280,000 | -0.4% | 19.1% |
| Ipswich | $415,000 | $390,000 | $320,000 | 6.4% | 29.7% |
| Isaac | $215,000 | $197,500 | - | 8.9% | - |
| Livingstone | $400,000 | $382,000 | $420,000 | 4.7% | -4.8% |
| Lockyer Valley | $375,000 | $350,000 | $306,500 | 7.1% | 22.3% |
| Logan | $440,000 | $435,000 | $360,000 | 1.1% | 22.2% |
| Mackay | $361,000 | $343,000 | $400,500 | 5.2% | -9.9% |
| Mareeba | $337,500 | $380,000 | $350,000 | -11.2% | -3.6% |
| Moreton Bay | $475,000 | $475,000 | $410,000 | 0.0% | 15.9% |
| Mount Isa | $227,500 | $255,000 | $355,000 | -10.8% | -35.9% |
| Noosa | $700,000 | $740,000 | $525,000 | -5.4% | 33.3% |
| Redland | $534,000 | $550,000 | $475,000 | -2.9% | 12.4% |
| Rockhampton | $270,000 | $266,750 | $295,000 | 1.2% | -8.5% |
| Scenic Rim | $479,000 | $480,000 | $403,000 | -0.2% | 18.9% |
| Somerset | $362,000 | $358,000 | $341,000 | 1.1% | 6.2% |
| South Burnett | $236,500 | $235,000 | $216,250 | 0.6% | 9.4% |
| Southern Downs | $265,000 | $280,000 | $268,000 | -5.4% | -1.1% |
| Sunshine Coast | $600,000 | $605,000 | $485,000 | -0.8% | 23.7% |
| Tablelands | $333,000 | $320,000 | $310,000 | 4.1% | 7.4% |
| Toowoomba | $372,000 | $375,000 | $352,000 | -0.8% | 5.7% |
| Townsville | $320,000 | $325,000 | $355,000 | -1.5% | -9.9% |
| Western Downs | $231,000 | $236,000 | $293,500 | -2.1% | -21.3% |
| Whitsunday | $370,000 | $371,000 | $390,000 | -0.3% | -5.1% |
Best Regards
Linda 姬琳达珍 and Carlos Debello
(LREA)
LJ Gilland Real Estate Pty Ltd
PO BOX 19
ZILLMERE 4034
Ph: 07 3263 6085
ZILLMERE 4034
Ph: 07 3263 6085
0413
560 808
0400
833 800
0409 995 578 (L)
http://ljgrealestate.com.au/competitive-commission/
http://ljgrealestate.com.au/property-management/
The information in this message is intended for the recipient named on
this email. If you are not that recipient, please do not read, copy, distribute
or act upon the message as the information it contains may be privileged and
confidential. If you have received this message in error, please notify us
immediately by return email. Thank you for your co-operation
Please
consider the environment before printing this email
No comments:
Post a Comment