Changes in House and Unit Prices over the Last Quarter and Year

Brisbane has been called the new ‘city of the young’ as millennial home hunters flock to the capital for beautiful, newly built houses and affordable prices. The market currently has the perfect combination of factors to make the dream of home ownership a reality.

Brisbane’s median house price grew close to $541,000 this quarter, remaining considerably more affordable than capital cities further down the coast. Young locals on the hunt for their first home could also consider apartments which, at a median price of around $358,000, could be the key to breaking into the property game. And then if that's too much, then Hobart is a steal with houses at $383,000 and units at $258,000.
 

  Dec 2015 Sep 2016 Dec 2016 Last Qtr
% Change
Annual
% Change
Houses          
Sydney $1,015,459 $1,073,681 $1,123,991 4.70% 10.70%
Melbourne $721,329 $767,696 $795,447 3.60% 10.30%
Canberra $651,609 $647,935 $684,395 5.60% 5.00%
Darwin $660,612 $594,144 $591,167 -0.50% -10.50%
Perth $587,328 $576,619 $573,766 -0.50% -2.30%
Brisbane $517,229 $528,851 $540,758 2.30% 4.50%
Adelaide $489,003 $496,355 $501,166 1.00% 2.50%
Hobart $347,287 $360,532 $382,888 6.20% 10.30%
National $724,844 $755,513 $780,877 3.40% 7.70%
           
Units          
Sydney $668,889 $691,499 $711,256 2.90% 6.30%
Melbourne $446,584 $448,630 $459,181 2.40% 2.80%
Canberra $423,190 $424,729 $413,697 -2.60% -2.20%
Darwin $428,661 $454,716 $454,716 0.00% 6.10%
Perth $395,456 $375,913 $369,946 -1.60% -6.50%
Brisbane $387,899 $380,281 $358,426 -5.70% -7.60%
Adelaide $300,374 $303,740 $309,365 1.90% 3.00%
Hobart $284,177 $254,571 $258,242 1.40% -9.10%
National $528,353 $538,069 $546,422 1.60% 3.40%

 

 

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