Source: Domain.com.au
If you've been trying to buy property in Brisbane during the past year, no, you are not the only one feeling the pain and no, it is not your imagination - prices really are rising quickly. Brisbane's median house price is now $924,498 - that's nearly $103,000 more than it was this time last year and a whopping $324,000 more than it was four years ago. In the Carindale SA3 region, which includes suburbs like Camp Hill, Carina Heights and Carina, house prices have soared by $243,000 over the past 12 months.
And units? After so many years of flatlining prices, the Brisbane unit market is booming, and the price gains are at a 16-year high. Set against a backdrop of high interest rates and cost of living pressures, Brisbane's super-strong property market is being aided by a chronic undersupply of new homes, strong population growth, cost-to-build blowouts, and a tight rental market. The question now is how long can this be sustained - and how long until Brisbane reaches the million-dollar median?
Brisbane Median Property Price
March 2024 QoQ Change
Houses - $924,498 - increase of 1.6%
Units - $549,70 - increase of 4.5%
