Mortgage holders rejoice: Most Qld homes rose in value over the past year
Home values rose in seven of Queensland’s nine subregions in the past year, despite widespread fears of a cooling housing market.
It comes as Brisbane is ranked 20th on a global list of cities measuring residential property price growth over the past year, with the city recording above average 3.5 per cent growth.
CoreLogic head of research Tim Lawless said that with property values falling across four of the eight capital cities over the past twelve months, it was easy to forget some housing markets around the country were actually seeing relatively healthy and sustainable growth.
Homes in Brisbane’s western suburbs increased in value by 4.4 per cent in the same period, followed by Moreton Bay South, with a gain of 2.5 per cent and inner Brisbane with a rise of 2.1 per cent.
Home values in Logan, Brisbane’s eastern suburbs, Gold Coast, Wide Bay, Brisbane’s north and Moreton Bay North also rose marginally.
At the same time, only one of Sydney’s 15 subregions recorded an annual rise in home values. Source: realestate.com.au