Monday, May 1, 2017

Brisbane Apartment Prices in Freefall

The latest CoreLogic report, issued today, shows that the prices of Brisbane apartments are falling, dramatically.
See https://issuu.com/corelogicaustralia/docs/2017-05-01--corelogichomevalueindex

Brisbane apartment prices (to 30 April 2017)
April 2017 - down 3.1%
Quarter - down 1.9%
Year to Date - down 2.1%
Year on Year - down 3.1% 
Median price based on settled sales of Brisbane apartments over the quarter - $400,000

A 3% decline on a $500,000 apartment is a loss of $15,000.

Rents are also dropping, on my rough calculation by about 5%.

1 comment:

Mel Brandle said...

Seems like this might be a good time for people to look for investment opportunities in the property market - take all that money out of storage and start putting it into city apartments. It's really only a matter of time before people start taking their fears out of storage and start buying again!