Brisbane house and unit prices hit record highs last quarter, according to Domain, but change may be coming.
Brisbane is one of two cities in Australia with record high real estate prices, rising by almost $167,000 for houses and $40,000 for units in a matter of months.for the June quarter showed Brisbane median house prices hit a record high of $840,594 after rising 0.2 per cent over the quarter and 24.7 per cent over the year, while unit prices rose by 1.4 per cent over the quarter to reach a record $448,383.
“There is no doubt that demand for Queensland property remains stronger compared with other capital cities. However, buyer conditions are loosening,” she said.Powell said a demand for houses during the upswing had continued to rise more than twice as fast as for units annually. “Units are being placed in the spotlight for a combination of reasons: affordability constraints, increased investment activity and reduced borrowing capacity.”Powell said the changing market dynamics of supply and demand had made it the busiest June quarter on record for Brisbane’s auction market, with a high volume of new listings over the three months to June.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Buzz Aldrin's jacket from the Apollo 11 Moon mission sells for record at auctionThe jacket — which is made of a fire-resistant material known as beta cloth — displays Edwin 'Buzz' Aldrin's name tag on the left breast above the Apollo 11 mission emblem, and the American flag on the left shoulder.
Read more »
Europe’s record summer of heat and fires – visualisedRecords are being broken in Europe for temperatures and burned land. These graphics show the scale of the crisis
Read more »
Covid hospitalisations to grow another 60% from current record, Queensland modelling showsState government says it is making extra hospital beds available and scaling up ambulance coordination
Read more »
$14 million baseball card set to break auction recordA baseball card from 1952 featuring New York Yankees legend Mickey Mantle is tipped to break a sports memorabilia auction record.
Read more »
Mark Zuckerberg sells San Francisco home for record $44.5 million - realestate.com.auMark Zuckerberg has a large real estate portfolio across America’s west coast, but could this be the first sign that he is saying goodbye to San Francisco?
Read more »
Teen freak joins Nadal in record-setting runThe Spaniard continues his charge towards greatness! 🇪🇸 Is he the man to lead the next generation? 🤔🎾 📖 MORE: 9WWOS Tennis
Read more »