Capital growth surges in Brisbane’s inner city
Brisbane’s inner city has skyrocketed in capital growth with some areas achieving nearly 22% in capital growth for the last 12 months. Inner-city homeowners are pocketing nearly $4000 per week with Brisbane hitting a record high in growth for 2017. So which areas are getting the best results?
Some of these areas include St Lucia, Ascot and Auchenflower, Wilston, Bulimba and Gaythorne.
Some of the numbers.
$655,000 Brisbane Median Price
21.8% Biggest Price Growth = St Lucia
$2.51m Brisbane’s Most Expensive Suburb = Teneriffe Median Price
$18.48m Largest Single Sale in the last 12 month = Kangaroo Point
The reality is southeast Queensland has so much to offer and presents great value in comparison to its capital city contenders. The combination of steady and sustainable growth in house prices at affordable prices make Brisbane a highly comparable place to buy compared to Sydney & Melbourne.
Despite the disruption of the GFC and 2011 Brisbane floods over the past 10 years the average median prices has grown 58 per cent for Brisbane. Taking the median house to a new high of $655,000 which is nearly 60 per cent higher than a decade ago. These results itself demonstrate resilience in the city’s market against the global financial crisis and mining downturn.
Gold Coast saw a 6.8 per cent jump in its median house price to $595,000, which other areas of southeast Queensland like the names of Sunshine Coast were about 6.2 per cent to $550,000. Noosa was another performer taking a 12% growth to $645,000. And Woodend in Ipswich had fantastic figures growing a massive 34 per cent in the last 12 months making homeowners a whopping $100,000 in just 12 months.
The recent data from CoreLogic support that Brisbane is and continues to remain unbeatable value when it comes to housing. And further strengthens throughout the southeast, our growth will continue to improve its position to being reliable, sustainable growth.
CoreLogic data breaks the property market into three segments: the most affordable 25% of properties, the middle 50% and the most expensive 25%. Over the last 12 months to August 2017 nationally the recorded value growth was:
2.9% growth for the most affordable properties
8.0% growth for the middle properties, and
11.4% growth for the 25% of most expensive suburbs
Annual change in dwelling values across market segments, National
Approximately 6 percent of Brisbane’s premium market have a median housed price of $1m or more compared to Sydney and Melbourne’s 50 to 33 percent, respectively.
Contact us if you want to know how your property has performed in the last 12 months.
Here are some more statistics:
Brisbane’s Top Suburbs 2017
1. St Lucia $1,255,000 21.8% Capital Growth
2. Gaythorne $720,000. 21.6% Capital Growth
3. Ascot $1,520,000 21.6% Capital Growth
4. Auchenflower $1,055,000 19.2% Capital Growth
5. Wilston $1,200,000 18.8% Capital Growth
6. Corinda $759,500 17.5% Capital Growth
7. Milton $965,000 17% Capital Growth
8. Fig Tree Pocket $1,028,000 16.5% Capital Growth