April Market Update

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Core Logic has released their newest housing market update for April 2018 which focusses on the performance of the market in the first quarter. Australian dwelling values held firm in March, with the combined regional markets have been outperforming the capital cities since October last year, with a 1.1% rise in regional dwelling values compared to a 0.4% rise in capital city dwelling values.

Over the March quarter, value declines were recorded across the most expensive half of the market while the most affordable end of the market continued to record a subtle rise in values.

The Brisbane housing market has been treading water over the first three months of the year, with dwelling values absolutely flat over the March Quarter. Houses are showing a slightly better performance, with values up 1.8% over the past twelve months.

Brisbane Key Statistics:

Change in dwelling values
Three months 0.0%
Twelve months 1.3%
Avg annual growth past decade 0.9%

Median Prices
(based on sales over the past three months)
Median dwelling value $491,806
Median house value $534,676
Median unit value $382,887

Rental rates and yields
Weekly rent:
Houses $420
Units $390

Gross Rental yield
Houses 4.2%
Units 5.4%

Selling time and discounting
Time on the market:
March 2018: 73
March 2017: 62

Vendor discount
March 2018: -5.1%
March 2017: -5.6%

 

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