Middle Brisbane seeing strongest home price growth

first_img MORE: Gold Coast’s most in-demand suburbs First home buyer loan deposit scheme explained Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:25Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:25 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. 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This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenAustralia’s top price growth suburbs of the decade02:26More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours ago Mr Lawless said capital city dwelling values fell by 3.8 per cent over the first six months of 2019 and then rebounded by 7 per cent in the second half of the year nationally.“The housing value rebound was spurred on by lower mortgage rates, a relaxation in borrower serviceability assessments, improved housing affordability and renewed certainty around property taxation policies post the federal election,” he said.“Lower advertised stock levels persisted providing additional upwards pressure on prices amidst rising buyer activity.”Brisbane was now sitting below the national median dwelling value, which hit $537,506 after an 1.1 per cent jump in December. Nationally the calendar year ended with an annual rise of 2.3 per cent. MORE FROM SOPHIE FOSTER ON FACEBOOK An aerial of the Brisbane CBD.The middle of the market in Brisbane is what’s now driving growth in property values as 2020 kicks off, according to the latest Home Values Index out Thursday.The Index saw Brisbane log a 0.7 per cent change in home value in December, to end 2019 with an annual rise in dwelling values of 0.3 per cent. center_img Scotty Cam reveals 2020 changes for The Block Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:50Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:50 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenExperts 2020 property predictions02:50 The median value for the greater Brisbane region ended the year at $497,491, spurred by a big jump of 2.4 per cent in the December quarter.CoreLogic head of research Tim Lawless said it was “a year of two distinct halves” for housing values.In Brisbane, he said, “it’s the middle of the market recording the strongest growth conditions”.Homes around the middle of the market rose 0.7 per cent in value, he said, compared with a 0.1 per cent rise across the lower quarter of the market and steady conditions across the upper quarter. last_img read more