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.
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