The real estate market in Brisbane is witnessing rapid growth in a few areas while some areas are witnessing a drop in prices, thereby transforming into buyers’ markets. The higher home values have homeowners satisfied in the western suburbs while the southern part of Brisbane is becoming a favoured market for buyers. Western Brisbane has performed well in recent times with home values increasing by a whopping 4.8% as per reports. Homes have increased in value by a whopping 10% and even more across Fig Tree Pocket while they have increased by more than 7% in Moggill. However, home values have fallen by approximately 1.9% in southern Brisbane.
Yeronga housing units are now priced lower by 5% as compared to the values witnessed around one year earlier. Home values have gone up by approximately 1.2% in northern and eastern Brisbane. Values have gone up by around 0.7% in Queensland while values have increased by 0.2% throughout regional Queensland. Even in Moreton Bay, home prices have gone up by 3% in the southern part of the region while in the northern zone, they have gone down by 1/10th of 1% as per reports.
Values of housing units have increased by 15% over the last 12 months while values have gone down by close to 4% in Griffin, Moreton Bay South. The western Chelmer suburb in Brisbane saw home values going down by around 9.6%. Home values also increased by close to 2% in Logan while those in Ipswich came down by around ½ of 1%. Southern Brisbane is more affordable in comparison to northern Brisbane. Interstate migration is also going up and there is more value in the Brisbane housing market as per experts for these prospective buyers.
There is growing interest amongst buyers for those properties which are priced between $800, 000 and $1.3 million as per reports. Bardon and other western suburbs are drawing buyers with their easy access to the city and other key areas. Home prices here have increased by 6.6% over the last 12 months and have touched $948, 350.
