FAQs
Over the past few years, Brisbane's apartment market has undergone many changes due to global economic events and local market movements. From apartment undersupply to an all-time development high, the city is now experiencing an oversupply of apartments.
Is Brisbane facing a year of apartment oversupply? ›
The Brisbane apartment market shifted from undersupply to oversupply in the space of three months, due to the COVID-19 pandemic that has cut population growth and demand, according to valuation firm m3property.
Is buying a unit in Brisbane a good investment? ›
Purchasing a townhouse in Brisbane can be a good alternative for investors looking to achieve a balance between capital growth and rental yield, and purchase in a desirable area. The majority of Brisbane townhouses are strata-titled and form part of a body corporate.
How many apartments are there in Brisbane? ›
Nearly 84,000 apartments now exist across Brisbane's inner city suburbs — twice as many as there were only 10 years ago — and Bruce Goddard, director of Place Projects, believes that could double again in the next decade.
Is Brisbane in a rental crisis? ›
Brisbane median rental increases between March 2020 and September 2022 – 33 per cent for houses and 23 per cent for apartments – were “close to the highest rental inflation rates for any capital city during the period”.
Why is rent increasing in Brisbane? ›
“People coming to fill jobs in Brisbane want to make sure there's available housing. The market is so tight, there are no homes available … that's the handbrake.” Overall rent was up 11.4 per cent in Brisbane in 2022, compared to a 7.3 per cent rise for calendar year 2021.
Is Brisbane in the rental crisis 2023? ›
Published 24 Feb, 2023
The rental crisis is having the biggest impact on renters in Brisbane, according to the latest report from Savvy. By the end of last year, Brisbane had the sharpest decline in rental affordability, representing a historic low point.
Are Brisbane apartment prices falling? ›
Throughout all of Greater Brisbane, CoreLogic data confirms that listings are down 29 per cent compared to the five-year average.
Is Brisbane property going to boom? ›
Median property prices in Brisbane
CoreLogic data shows house values are roughly 10.9% lower since moving through a peak in June 2022.
Which is the best suburb in Brisbane? ›
Here are the top 10 suburbs:
- Kelvin Grove.
- Herston.
- Brisbane City.
- Fortitude Valley.
- Kangaroo Point.
- Spring Hill.
- Paddington.
- Milton.
Rental Trends
The Median Rent in Brisbane City is $ 580 for houses and $ 600 for units. The Rental Yield in Brisbane City is 5.96 % for houses and 5.70 % for units.
What is the fastest growing suburb in Brisbane? ›
Jimboomba saw 11,300 new residents (up 6.3 per cent), Brisbane Inner had 10,900 people added to the area (4.2 per cent), Caloundra was up by 10,700 individuals (3.8 per cent), Browns Plains added 9,600 (3.4 per cent), North Lakes 9,200 (3.5 per cent), Caboolture 8,100 (3.4 per cent), Toowoomba 7,300 (1.5 per cent), ...
What is the average rent in Brisbane? ›
Average Brisbane Rental Prices in 2022
Three-bedroom family homes cost around $557 a week, a slightly more modest 14.8% rise across the last twelve months. On average, units rent for $526 a week, dropping to $516 for a two-bedroom unit, around 16% more than the standard rental cost in 2021.
What is Brisbane City most expensive apartment? ›
Spyre secure $15.75 million Brisbane apartment record at Moray House, New Farm riverfront development.
What is the average housing price in Brisbane? ›
The median dwelling value in Brisbane has increased from $506,553 at the onset of COVID-19 in March 2020, to $707,658 at the end of 2022. “Despite the large decline from peak, Brisbane maintains the third highest gain in value of the capital cities since the start of the pandemic,” she said.
What is the rental vacancy rate in Brisbane 2023? ›
Vacancy rate of rental properties Brisbane, Australia 2013-2023. In February 2023, the Australian city of Brisbane had a residential rental property vacancy rate of 0.8 percent, the lowest over the ten year reported period. In 2017, the residential rental property vacancy rate peaked at 3.7 percent in Brisbane.
What is the rental situation in Brisbane? ›
Rent in Brisbane rose by 1.8 per cent in the last quarter and increased by 12.3 per cent in the last year — making the median rent $599 per week.
What is the rental market like in Brisbane? ›
Brisbane's rental prices have hit a record high, but a new report has given tenants a glimmer of hope, with signs the city's steep increases are easing. Domain's March 2023 Rental Report, released on Thursday, shows that while prices have continued to increase, the rate of their growth has slowed.
Why are Brisbane property prices so high? ›
Based on the fundamentals that drive property price changes, it is evident that across Brisbane there is very low supply and high demand. Higher interest rates combined with high inflation levels have impacted some buyers but differently for everyone.
Will rent go down in 2023 Australia? ›
While there's no consensus on what rents will do exactly in 2023 — go up a little, go down a little, or stay flat, according to three forecasts — what's clear is they are expected to return to more normal growth patterns, instead of the unsustainable, record rates seen in 2021 and 2022.
Much of the pressure stems from a skyrocketing rental market that has seen “the worst inflation of any place in Australia”. Median rents rose 80% in the central Queensland city of Gladstone, 51% in Noosa and 33% on the Gold Coast over the past five years.
Which Brisbane suburbs will boom in 2023? ›
10 best suburbs in Brisbane to invest in 2023
- Annerley (Units)
- Caboolture.
- Dakabin.
- Deception Bay.
- Eagleby.
- Eastern Heights.
- Edens Landing.
- Kangaroo Point (Units)
What will Brisbane house prices be in 2024? ›
Brisbane was expected to fall by one per cent in 2023, taking prices back to $778,336 from $786,198. A six per cent increase in 2024 would take prices up to $825,036. Perth was expected to remain flat at $586,721 in 2023.
Will there be another housing market crash in 2023? ›
Most experts do not expect a housing market crash in 2023 since many homeowners have built up significant equity in their homes. The issue is primarily an affordability crisis.
Where to buy in Brisbane 2023? ›
The 10 best Brisbane suburbs to buy investment property in 2023
- Ascot.
- Paddington.
- Ashgrove.
- Bardon.
- Auchenflower.
- Stafford.
- Chermside West.
- Kelvin Grove.
Is Queensland in a rental crisis? ›
They are constantly being faced with huge increases in rent." Private rents in Queensland have grown faster than any other state or territory, a report titled Blueprint to tackle Queensland's Housing Crisis found.
What is the property market forecast for Brisbane in 2025? ›
The median house price in Brisbane is forecast to sit at around $819,000 in June 2025.
What is the property market forecast for Brisbane in 2023? ›
It is predicted that Brisbane's real estate prices will drop by 12% in 2023. The estimated median house price for 2023 is $719,669 and the median unit price is $503,200.
Why invest in Brisbane property? ›
Brisbane has seen a steady increase in its population over the last two years, making it the only Australian capital city to experience such growth. This growth has led to an increased demand for housing, which is a positive sign for investors.
Where do millionaires live in Brisbane? ›
Ascot is an Inner North East suburb that's known for its affluence after once being the most expensive suburb in Brisbane. Ascot offers a selection of historic and old world-style homes. Many families choose to live in the area to make the most of the state school catchment zone.
Queensland isn't the richest state in Australia but its real estate market sure is booming. Teneriffe is currently the most expensive suburb in Brisbane, thanks to its inner-city location, variety of trendy eateries, and riverside access. Up until the late 90s, Teneriffe had very few qualities to offer.
What is the rich part of Brisbane? ›
Teneriffe. Current holder of the title, Brisbane's most expensive suburb, goes to inner city Teneriffe which has shed its industrial past and made the most of its views and proximity to the city centre.
What is average rental return in Brisbane? ›
The median listing price for units is $485,000 and this has changed 5.66% over the past year. The average unit takes NA days to sell and the median rent for a unit in Brisbane is $470 per week, producing a rental yield of 5.03%.
What is the 2% rule in renting? ›
2% Rule. The 2% rule is the same as the 1% rule – it just uses a different number. The 2% rule states that the monthly rent for an investment property should be equal to or no less than 2% of the purchase price. Here's an example of the 2% rule for a home with the purchase price of $150,000: $150,000 x 0.02 = $3,000.
What suburbs in Brisbane have the lowest vacancy rates? ›
Getting a rental on Brisbane's northside is almost impossible, with the suburbs of Strathpine, Nundah, and Sandgate recording the tightest markets, all with vacancy rates of less than 0.9 per cent.
Which Brisbane suburbs will boom? ›
HOUSES
Suburb | Median price | Quarterly growth |
---|
Wilston | $1,690,000 | 12.12% |
Teneriffe | $3,050,000 | 0.00% |
New Farm | $2,630,000 | 8.69% |
Ascot | $2,170,000 | 2.78% |
12 more rows3 days ago
What is the trendy suburb of Brisbane? ›
Fortitude Valley
The Valley's blend of dining institutions, designer fashion and muralled laneways have made it one of the city's coolest enclaves. Minutes from the CBD, Fortitude Valley remains one of Brisbane's most popular haunts for food and entertainment.
What American city is Brisbane most like? ›
Tampa, Florida is on approximately the same latitude as Brisbane, and appears to have a mostly similar climate, The winters are probably milder than Brisbane's and the summers more humid due to the lack of land mass that Brisbane has to the west.
How much does an apartment cost in Brisbane Australia? ›
The median rent in Brisbane for all houses is $674 per week while unit prices sit slightly lower at $526 per week.
Is Brisbane a good place to retire? ›
Summary: Brisbane, Australia is a popular destination for retirees due to its warm, subtropical climate and its vibrant culture.
The most expensive street in Brisbane is Eldernell Terrace in Hamilton, according to Suburbtrends, with the median house price along the street over $3.8 million.
Where is the best place to live in Brisbane? ›
Top Places to Live in Brisbane
- South Brisbane.
- Fortitude Valley.
- Kelvin Grove.
- Chermside.
- Ashgrove.
- Spring Hill.
- St. Lucia.
- West End.
What is the most Expensice house in Brisbane? ›
One of Brisbane's finest homes has made history as the most expensive residential property to ever be sold in the city, changing hands for a record $20.5m. This property at 101 Welsby St, New Farm, has sold for a record $20.5m.
Are apartment prices rising in Brisbane? ›
Brisbane rental market
House rents in Brisbane have increased 11.2 per cent over the last 12 months, while unit rents have increased 16.1 per cent according to CoreLogic.
How big is an average house in Brisbane? ›
Greater Brisbane decreased the most, by 112 square metres (-20%), from 571 square metres in 2012 to 459 square metres in 2021.
What is the average price of a house in Brisbane suburbs? ›
In March 2020, Brisbane's median house price was just $596,152, but by March 2022 it had soared to $847,374 – that's a massive $251,222 increase in value. That median of $847,374, which held into the June quarter this year, was actually when Brisbane's property market peaked.
Is there a rental crisis in Queensland? ›
Pandemic-generated pressures have left our rental housing market reeling. Australia-wide, vacancy rates are at rock-bottom levels. Rents are soaring at record rates. Queensland has been at the epicentre of the post-COVID housing storm.
Will apartment prices drop in Brisbane? ›
Rent values increased a further 13.4 per cent in 2022, suggesting an underlying shortage of available housing across the city. "While Brisbane property values are likely to fall further in 2023, it is possible the rate of decline will continue to slow over the coming months," Owen said.
What is the property prediction for Brisbane in 2023? ›
NAB's latest Brisbane house price forecast has homes falling a heavy -7.3 per cent in 2023 once the full effects of interest rate hikes are felt.
What is the property market forecast for Brisbane 2023? ›
ANZ Bank forecast Brisbane property values could decrease 10% in 2023. CBA forecast Brisbane property values could decrease 6% in 2023. NAB forecast Brisbane property values could decrease 9.4% in 2023.
Brisbane housing market insights
And even as growth slowed in other parts of Australia, Brisbane's housing market continued to perform strongly in the first half of 2022. From mid 2022 Brisbane house prices kept falling but it looks like the Brisbane market has passed the bottom of the downturn.
How long is the wait for housing in Qld? ›
"On average, Queenslanders in need of social housing are waiting in excess of 28 months," said chief executive Aimee McVeigh. She said the government's recent funding commitments were "a good first step" but the magnitude of the crisis required a marathon.
What is the maximum rental increase in Queensland? ›
Is there a limit on the amount rent can increase in Queensland? The short answer is no. As it stands, there is no maximum amount or percentage to limit the size of rent increases.
What is the average cost of an apartment in Brisbane? ›
Average Brisbane Rental Prices in 2022
Three-bedroom family homes cost around $557 a week, a slightly more modest 14.8% rise across the last twelve months. On average, units rent for $526 a week, dropping to $516 for a two-bedroom unit, around 16% more than the standard rental cost in 2021.
What is the average salary in Brisbane? ›
Key statistics
Median employee earnings was $1,250 per week, up $50 (4.2%) since August 2021. Median hourly earnings was $37 per hour, up $1 since August 2021.
What is the best area to live in Brisbane? ›
Top Places to Live in Brisbane
- South Brisbane.
- Fortitude Valley.
- Kelvin Grove.
- Chermside.
- Ashgrove.
- Spring Hill.
- St. Lucia.
- West End.