Friday, August 7, 2015

Brisbane Apartments and Units perform poorly

CoreLogic (RP Data) has released its recent monthly housing report.

"According to Mr Lawless, the strongest growth conditions outside of Sydney and Melbourne have been in Brisbane where dwelling values were 3.9 per cent higher over the year. Sydney and Melbourne values continue to boom, the next best performing city, Brisbane, has seen dwelling values rise by just 3.9 per cent over the past twelve months. Based on the median dwelling price, Sydney prices are now 72 per cent higher than Brisbane’s and Melbourne’s are 24 per cent higher,” he said."

However, apartments in Brisbane performed very poorly when compared with houses.  In fact, apartment values have declined in Brisbane.

Brisbane apartment prices (to 31 July 2015):
July 2015 - down 1.9%
Quarter - down 2.3%
Year to Date - down 0.8%
Year on Year - down 2.5%
Median price based on settled sales of Brisbane apartments over the quarter - $380,000

1 comment:

Graham said...

Thanks for this. I'm wondering what you think of the big suburban developments like Coorparoo Square?