Brisbane has led the nation in home price growth over the past month, with values hitting a new record high as homeowners brace for a potential rate hike next week, a new report reveals.
PropTrack's latest Home Price Index, shows the city's unit and house prices combined gained another half a per cent in October to hit a new median price peak of $773,000 - almost as high as Melbourne's at $815,000 median. That's the equal biggest increase for the month alongside Perth and the 10th consecutive month of rises - the longest period of growth since the pandemic upturn.
Prices in Brisbane are now 7.4% above their level a year ago and 53% higher than they were before the pandemic in March 2020. "It's testament to the exceptional outperformance in growth in Brisbane during the pandemic and the continued growth into this year," PropTrack senior economist Eleanor Creagh said.
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