The Urban Developer’s Brisbane housing market insights for February reveals increased demand for houses has been underpinned by increasing consumer sentiment and a surge in interstate migration.
This resource, to be updated monthly, will collate and examine the economic levers pushing and pulling Brisbane’s housing market.
Combining market research, rolling indices and expert market opinion, this evolving hub will act as a pulse check for those wanting to take a closer look at the movements across the market.
So, what were the highlights across Brisbane’s property market throughout February 2021?
Brisbane, less vulnerable to financial stresses caused by the pandemic-driven economic downturn, took a smaller hit from lower immigration and is also benefiting from people moving to the city for lifestyle reasons.
Similar to other cities, growth in values has been skewed towards houses in Brisbane, which have risen 5.9 per cent compared to a 1.1 per cent lift in unit values during the 12 months to February.
According to Corelogic, dwelling values in Brisbane had an overall median monthly price rise of a 1.5 per cent during February.
The February increase is the steepest rise since November 2007 when the monthly growth rate was 1.72 per cent.
The current median value for dwellings across Brisbane is $535,618, the highest on record, while the current median unit price in Brisbane is $396,183.
In Brisbane’s east, house prices have lifted by nearly 10 per cent during the past 12 months.
Brisbane median house and unit price values
| Type | Month | Quarter | Annual | Median |
|---|---|---|---|---|
| All | 1.5%▲ | 3.5%▲ | 5.0%▲ | $535,681▲ |
| Houses | 1.6%▲ | 3.8%▲ | 5.9%▲ | $593,232▲ |
| Units | 1.0%▲ | 1.8%▲ | 1.1%▲ | $396,183▲ |
^Source: Corelogic Hedonic Home Value Index – February
Brisbane housing market affordability
| City | Household income to meet mortgage repayments September 2019 | Household income to meet mortgage repayments September 2020 |
|---|---|---|
| Brisbane | 21.0% | 18.7% |
^Source: Moody’s Investor Services – October
Brisbane prestige property ranking
| City | Global ranking | 3-month change | 12-month change |
|---|---|---|---|
| Brisbane | 23rd | -1.4%▼ | 1.1%▲ |
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