Property Research and News
Brisbane Property Snapshot Dec 2009
Brisbane Rental Data
* Median Wkly Rents 3 Bed Hses - $370 per week (Up $10 pwk on last Qtr)
* Median Wkly Rents 2 Bed Units - $355 (Up $10 pwk on last Qtr)
* Median Wkly Rents 2 T/houses - $350 p/wk (Up $10 pwk on last Qtr)
* Gross Rental Yields Houses are at 3.9% - (Down 1 % on last qtr)
* Gross Rental Yields Units & t/Hses are at 4.7% - (Down 0.1 % on last qtr)
* Vacancy Rate stable at 3% which means a balanced market.
Brisbane Sales Data
* Median Sales Data Houses - $495K (Up $15k on last Qtr)
* Median Wkly Rents 2 Bed Units - $389,500 (Up $9,500 on last Qtr)
Median house and unit prices
The Brisbane residential property market has continued regaining ground over the September quarter. After two flat quarters in December 2008 and March 2009, Brisbane has posted its second consecutive quarter of positive price growth.
The Brisbane median house price increased 3.1 per cent to $495,000 and - after an uncertain economic year - finished just 3 per cent down for the year ending September. First home buyers remained active in the market during the period, as well as increasing numbers of investors and upgraders. Over the year ending September, the best Brisbane house performer was the Grange, which posted a very healthy 13.6 per cent median increase to $682,500. Located about 6kms north of the Brisbane CBD, Grange is known for its distinctively Queensland character and expansive views of the Brisbane skyline.
Suburbs to perform well both over the quarter, and the year included Rocklea, Salisbury, Sinnamon Park and Virginia.
Brisbane’s median unit and townhouse price increased 1.9 per cent to $389,500 over the September quarter. This segment of the market is increasingly attractive to investors and the traditionally popular near-city unit suburbs such as Annerley and Coorparoo continue to do well.