Brisbane’s median house price reaches new high

By |
As Queensland’s property market returns to positive territory after last quarter’s contraction, the median house price in Brisbane also increased by 1.3%, posting a new historical high of $635,000 in the June quarter, according to the latest data from the Real Estate Institute Queensland Market Monitor.

Unit prices fell by 0.2% to $440,000. However, its annual median sale price grew 0.3% compared with June 2015 at $441,300.

The Gold Coast emerged as one of the best performers of the state with a quarterly growth of 3.6%. The Townsville market also registered a growth of almost 3%, while the Toowoomba market fell by 2% - a continuation of the growth and contraction experienced by these two suburbs in the past quarter. Meanwhile, Bundaberg’s median unit price became more expensive than its median house price.

REIQ CEO Antonia Mercorella described the June quarter as a “challenging” one for the Queensland property market, with the lengthy federal election campaign and extensive uncertainty around the negative gearing debate taking its toll.

“Most of Queensland has struggled through this uncertainty and we have seen more markets contract than grow, which, of course, is disappointing,” said Mercorella.

However, Queensland’s affordability is once again drawing investors to the market.

“The Queensland housing market is doing what it does best – growing in a steady, sustainable way, consistently over the long term,” said Mercorella.

“It is a very good thing that we have not followed the peaks and troughs that occupy the graphs of other property markets.”

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Top Suburbs : newtown , mayfield , homebush , lockridge , woolloongabba

go back

Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here