CoreLogic: Brisbane property is “booming”

Tim Lawless, Head of Research at CoreLogic, posted the following on LinkedIn regarding Brisbane’s property market:

Boomin Brisbane!

After auction clearance rates trended to record highs over the past few weeks, this week, Brisbane is set to host the largest number of auctions since December 2016…

CoreLogic Australia indices are showing Brisbane is recording the fastest rate of home price appreciation amongst the majors, with values up 2.2% over the past four weeks and 6.2% over the rolling quarter.

Separately, CoreLogic’s daily index shows that Brisbane dwelling values are experiencing the fastest quarterly price growth out of the five major capitals at 6.5%:

My view is that Brisbane’s housing market will outperform over the next decade due to its superior affordability against Sydney and Melbourne:

Brisbane house prices vs Sydney Brisbane house prices vs Melbourne

Throw the 2032 Olympics into the mix, and Brisbane dwelling values should converge somewhat with its bigger East-Coast cousins.

Unconventional Economist
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