Friday, May 1, 2009
Prices Bounce Back
The slowdown during 2008 hit Brisbane harder than many other capital cities, which is largely due to prices perhaps overshooting the mark in ’07. Brisbane had a stellar run in 2007 with dwelling values increasing by 25 per cent over the calendar year – the highest annual rate of growth of any capital city during that period. Over the last 12 months Brisbane residential values have fallen 3.4 per cent across both the houses and units market. Modest growth has returned to the Brisbane market during 2009 with the first three months of year seeing house values up 1.4 per cent and unit values up 0.4 per cent. Rental returns are approximately on par with the national average with houses providing a gross yield of 4.7 per cent and units 5.4 per cent.