The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
43
print
Print
OtherTed TabetTue 30 Apr 19

Brisbane’s Flat House Prices ‘Better Than a Fall’

bd988fd4-f4ee-41d1-bd02-83c176596e84

Greater Brisbane house prices have stalled following six years of continuous annual growth, with prices flatlining over the year according to Domain Group's quarterly house price report.

Brisbane house values slipped 1.1 per cent lower in the first quarter of this year and are down 1.3 per cent over the last 12 months.

“Homeowners may not be reaping equity gain but flat house prices is a better outcome than a fall, which is what’s playing out across most capital cities,” Domain senior research analyst Nicola Powell said.

However, the markets remain fragmented, with apartments continuing to underperform free standing homes, a trend running since mid-2012.

Brisbane apartment values remain 12.2 per cent below their peak 2010 conditions with the current oversupply of new apartments slowly being soaked up.

Related: Confidence Returning to Inner Brisbane Apartment Market

Brisbane house prices are flatlining, slipping 1.1 per cent lower in the first quarter of 2019.


“Unit prices are 9.6 per cent below the mid-2016 peak, with buyers now able to reap the benefits of purchasing at 2013 prices,” Powell said.

“Significant supply numbers have weighed heavily on unit prices. Although listing volumes are shrinking, it has not been enough to translate into price growth yet.”

For now, conditions in Brisbane, the apartment construction market that was first to boom and also the first to decline, remain weak.


Brisbane in numbers

• House prices fell 1.1 per cent over the quarter and 0.3 per cent over the year to $563,666
• Unit prices fell 3.7 per cent over the quarter and 5.2 per cent over the year to $372,852


Hopes are growing for the apartment market in the Queensland capital.

A separate report by JLL this month said Brisbane apartment prices and rents would stabilise over the next 12 months.

Moody’s Analytics has also tipped values in Brisbane’s apartment market to recover 0.9 per cent this year.

Queensland's big infrastructure spend could stabilise housing

Brisbane, as well as most part of the state of Queensland, offers stronger capital growth prospects compared to other capital cities across Australia, banking on strong population growth.

Brisbane’s economy is being underpinned by major projects like Queen’s Wharf, TradeCoast, Cross River Rail, the second airport runway and the Adani Coal Mine, with many anticipating jobs and migration boost from these mega-projects in the near future.

“New residents will be further lured by growing job prospects, with Queensland leading the way in March for full-time employment growth,” Powell said.

“Several key projects will provide further economic benefits, both financial and as an employment base.”

“Placing these key factors into context provides a clearer picture of the strong underlying demand for housing from both investors and owner-occupiers.”

Queensland remains the third most popular destination for overseas migrants and is drawing the highest number of interstate movers, with Brisbane capturing the biggest flow of new residents.

ResidentialAustraliaBrisbaneReal EstateSector
AUTHOR
Ted Tabet
The Urban Developer - Journalist
More articles by this author
website iconlinkedin icon
ADVERTISEMENT
TOP STORIES
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Healthscope Hospital EDM
Exclusive

‘Once-in-a-Decade’ Opportunities Rise in Wake of Healthscope Collapse

Clare Burnett
7 Min
Exclusive

Parking Upsize Threatens Fatal Blow to Project Feasibility

Phil Bartsch
6 Min
One New Zealand Stadium BESIX Watpac
Exclusive

Rising to a Challenge: How BESIX Watpac Topped Australia’s Builders

Clare Burnett
7 Min
Exclusive

Rewards Outstrip Risk in SE Queensland Off-The-Plan Buys

Taryn Paris
7 Min
View All >
Sponsored

Fast Funds, Real Help—Woodbridge Capital Delivers Both

Partner Content
Development

Melbourne Luna Park Revival Wins State Backing

Marisa Wikramanayake
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
Buyers are ready, the homes are not: Fixing the Western Sydney housing crisis is a sum of its parts, a Sydney summit has…
LATEST
Finance

Fast Funds, Real Help—Woodbridge Capital Delivers Both

Partner Content
5 Min
Development

Melbourne Luna Park Revival Wins State Backing

Marisa Wikramanayake
2 Min
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Aerial photo of St Mary's Intermodal Terminal in Western Sydney now sold by Pacific National to PGIM and Cadence.
Industrial

Cadence, PGIM Team Up for $145m Freight Rail Acquisition

Marisa Wikramanayake
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/brisbanes-flat-house-prices-better-than-a-fall