Brisbane values stay put, while buyers cheer
Time and again, Brisbane proves why it's such a brilliant bargain when compared to the other capitals. While Melbourne and Sydney's house prices race off to unheard-of levels, Brisbane has been the tortoise to their hare, content to be patient and play the long game, with the value of real estate in Burpengary and similar areas growing slowly but surely.
This is certainly still the impression one gets when looking at the latest CoreLogic RP Data Hedonic Home Value Index, which shows Brisbane property is continuing to experience the gradual, sustainable growth that has buyers looking its way. In fact, Brisbane dwelling values stayed the same over the month of August, its median holding at $451,000.
The only other capital to experience this 0 per cent growth was, interestingly enough, Melbourne. However, with a median dwelling price of $563,500 and a year-on-year increase in values of 10.6 per cent, it's a vastly different market in the Victorian capital.
Perhaps most importantly for anyone who already owns a property in Brisbane is the fact that it didn't suffer the fate of capitals like Perth and Hobart, whose dwelling values actually fell. While the drops were modest – barely over 1 per cent – it shows the Brisbane market is still going relatively strong.
In fact, if one were to sell property in Deception Bay, Morayfield and nearby areas in the near future, they could end up earning a pretty penny. Brisbane's dwelling values have grown a respectable 3.3 per cent over the year to August 31, and it experienced the third highest growth rate over the last quarter out of all the capitals.
The key will be finding the right real estate agent to sell the home. A team with extensive experience in the industry and detailed knowledge of the local area could make all the difference.