Could Brisbane Take Over As The Best Performing Capital City Housing Market In 5 Years?
Brisbane is well placed to take over as the best performing capital city housing market over the next five years. Dwelling values across Australia’s third largest capital city have risen at the annual rate of 1.2% of the past decade; that’s half the pace of inflation and dramatically lower than Sydney or Melbourne where annual gains have averaged 6.3% and 5.9% over the past ten years.
Brisbane’s housing market won’t outperform other cities simply because the market has previously underperformed, however the relative gap in pricing between Australia’s largest cities is likely to be one of the factors that attracts housing demand to the city. At the end of November 2017 Sydney house values were 102% higher than Brisbane’s and Melbourne values were 57% higher. Based on median household incomes, Sydney households…
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