Theresa Worrell: Brisbane Housing Market Update [video]

Brisbane housing values have been tracking higher since July last year, with the latest half a percent rise in January taking Brisbane dwelling values to a new record high.

Brisbane houses have been showing a stronger performance than units, with house values up 1.4% over the past year compared with a 0.3% slip in unit values.

In fact, Brisbane unit values remain 11.5% below the 2010 high.

Local unit values have suffered due to high supply levels, however, the oversupply in Brisbane units is now largely absorbed and we’re expecting unit values to gradually recover.

With migration rates into Queensland rising and housing remaining much more affordable relative to the larger cities, we are likely to see values continuing to rise across Australia’s third-largest city.