Brisbane Market Update

Over the June quarter, the median house price in Brisbane increased 1.6 per cent to $527,250 and increased 3 per cent over the year ending June.

The preliminary numbers of house sales in Brisbane grew more than 30 per cent between the March and June quarters. More impressive yet was the numbers of sales over the year, which was up about 44 per cent.

Sales in the $500,000 to $1 million, and the $1 million-plus, price brackets have been growing at the strongest rate, which is a good indication that confidence is returning to the market.

Solid performers over the June quarter and the year in the upgrader category included Bulimba, Carina Heights, Coorparoo, Holland Park, Manly and Yeronga.

In Brisbane, the numbers of unit and townhouse sales increased 26 per cent compared to the June quarter last year and were up 21 per cent compared to the March quarter this year.

Median prices across most regions fluctuated over the June quarter due to the composition or types of properties sold over that period of time.