How this trend goes this year is still up for debate, however, the trends are steady at present.

Brisbane house prices have hit a record median high of $792,065, following one of the biggest quarterly price hikes in two decades. As reported in the Domain House Report 2021 Brisbane is also the second-largest leap in price in the country for the quarter with Canberra surpassing Brisbane breaking a median price of $1,178,364. 
 
The report shows both houses and units raising in price with houses jumping over 25%, or $162,181, and units up 3.5% annually. 
 
These numbers show the rapid growth in the Brisbane market which is outperforming all but Canberra in growth to date. This may be linked to a lower case count over the period of COVID-19 as well as the Brisbane Olympics in 2032. Some smart long-term investors appear to be positioning themselves for the long game. 
 
With the lower case counts of COVID-19, many Sydneysiders and Melbournians have looked north as a way to potentially avoid further lockdowns last year as well as looking for solid growth investment properties, and the numbers back them up in their decisions. This is not exclusive to Brisbane mind you as when Melbourne went into strict lockdowns in 2020, Sydney also had many Melbournians crossing to move there. 

With the escalating demand for both houses and units in Brisbane and the lower supply, it’s expected for prices to keep creeping up. With the lower interest rates, higher savings and less general spending due to lockdowns and Covid-19 infections keeping people more local, savings are increasing and the ability to purchase either a home or an investment property is finally in many people’s reach. 
 
How this trend goes this year is still up for debate, however, the trends are steady at present.

Stephen Catterall MBA

Assoc Professor TUA

Property Advice Solutions