Brisbane’s overall apartment market, including resales, saw 13.2% price growth to a median price of $505,000 in the year to June
2022. This was achieved with a decrease in listing activity in the last 6 months and sales volume that has consequently fallen 31%
below the 5-year average.
Place Advisory has analysed just two inner ring suburbs with sales volume in the last 6 months that surpassed their average number of sales in the past five years. Further, Wilston and Kelvin Grove recorded sales of 18% and 1% above their five-year averages, respectively.
Suburbs that trailed include Spring Hill, Fortitude Valley, and Red Hill, with volume in these suburbs not falling below 10%.
During the year to June 2022, Brisbane’s LGA house prices increased by 36.3% to a median of $1,080,000. There was nonetheless a decrease in volume in the last 6 months, with 5,502 sales. This reflects a 23% drop from the 5-year average sales
volume of 7,134 and is consequent of the persistently low number of listings over recent months.
The median apartment rent in Brisbane is now $448 per week after increasing by 14.70% in the year to June 2022. The median
rent for houses on the other hand is now $620 per week, a 20.20% increase during the same period. Vacancy rates are sitting at
approximately 0.6%, the lowest figure in over 15 years and further validates the significant demand in Brisbane’s rental market.
