Post a Comment On: Brisbane Apartment

Capital city dwelling values have shown a 1.4 per cent capital gain over the month of June 2014, with all cities apart from Adelaide and Darwin recording a rise in dwelling values. According to RP Data research director Tim Lawless, the strong result has partially reversed last month’s 1.9 per cent fall and provides a - 0.2 per cent decline in dwelling values over the June quarter.

Mr Lawless said, “With interest rates remaining low for the foreseeable future, it is doubtful that housing values will start to slide, at least not at a macro level. What is more likely is that natural affordability constraints will start to dent buyer demand, as will the low rental yield scenario’s that are very much evident across the largest capital cities of Melbourne and Sydney.”

Other indicators such as clearance rates are holding relatively firm which, according to Mr Lawless, further reinforces the notion that the housing market isn’t set to show a market correction. 

Brisbane apartment prices (to 30 June 2014):
June 2014 - up 0.7% Quarter - up 1.4% Year to Date - up 1.7%
Year on Year - up 5.4%
Median price based on settled sales of Brisbane apartments over the quarter - $385,000