Brisbane’s home values were up another 2% in May, taking the market 6.2% higher over the quarter and 10.6% higher over the past year.
The lift in values has been supported by a solid rise in demand, with our latest estimate of home sales tracking approximately 41% higher than the five-year average in May.
At the same time, advertised inventory levels are 28% below the five-year average.
This mismatch between available supply and demand is a key factor pushing prices higher.
Local house values have risen at more than twice the pace of unit values, with houses rising in value by 11.9% over the past twelve months while unit values are up to a smaller 4.2%.
You may also want to read:
National Housing Market Update [Video]
Perth Housing Market Update [Video]
Adelaide Housing Market Update [Video]
from Property UpdateProperty Update https://propertyupdate.com.au/brisbane-housing-market-update-video/
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