Wednesday, October 3, 2012

Brisbane Apartment Prices Still Going Backwards

Australian capital city home values continue to rise with a 1.4% jump in September.

The September RP Data Rismark Home Value Index results marked the fourth consecutive month-on-month rise in home values, further cementing the fact that a housing market recovery is underway.

Capital city dwelling values rose by 1.4 per cent over the month of September, the largest month-on-month rise recorded since March 2010.  Adelaide led the way with the strongest results where values were up 2.4 per cent, followed by Perth at 1.6 per cent over the month, Sydney at 1.5 per cent, Melbourne at 1.4 per cent and Brisbane values up 1.1 per cent.

Highlights over the quarter
Best performing capital city: Darwin
Weakest performing capital city: Hobart
Highest rental yields: Darwin houses with gross rental yield of 6% and Darwin Units at 6%
Lowest rental yields: Melbourne houses with gross rental yields of 3.6% and Melbourne units at 4.3%
Most expensive city: Sydney with a median dwelling price of $522,000

However, Brisbane apartments did not do so well.

Brisbane apartment prices:
September 2012 - down 0.8%
Quarter - down 0.8%
Year to Date - down 2.7
Year on Year - down 4.5%
Median price based on settled sales of Brisbane apartments over the quarter - $385,000.

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