Finally, Brisbane’s House Market is Stabilising!

marketOver the past ten years, Brisbane home value growth was much stronger over the five years to July 2007 (14.5 percent annually) than it has been over the most recent five-year period (0.6 percent annually).

Median house prices across the city are $74,000 higher than unit prices based on median selling prices over the three months to July 2012. The average levels of vendor discounting in July 2012 have shown an improvement compared with July 2011 but remain higher than average. Discounting levels are currently recorded at an elevated 8.9 percent for houses and 9.1 percent for units compared to 9.5 percent for houses and 8.8 percent for units a year ago. It is typically taking a slightly longer number of days to sell a Brisbane home than it was a year ago. Houses and units are currently selling after an average of 74 days on the market. In July 2011 it took an average of 68 days to sell a house 73 days to sell a unit. Of those Brisbane properties that sold over the past year, vendors had owned their houses for an average of 9.2 years and units for 7.4 years. Brisbane’s population was estimated to be almost 2.1 million persons as at June 2011, which was 1.7 percent higher over the year.

Click here for all the latest statistics Australia wide.

Source:  RP DATA

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