The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
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
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
Global ports shift up to 30 per cent of containers by rail—Brisbane moves less than 2 per cent. Here’s why that’s a prob…
LATEST
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Residential

Home Affordability Gap Widens Across Asia-Pacific

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