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Real Brisbane - Real Estate






 Brisbane  at a Glance

 Median House Prices    $345,000
 Median House Rentals    $280
 Vancancy Rate    1.7%
 Investment Returns   3.4% 

Brisbane's Property Market  

Contents     Brisbane Property Market

About Brisbane

Brisbane, voted Australia’s “most livable city”, is also the capital of Australia’s fastest growing state, Queensland.  Recognized as the Sunshine and Smart state and to the locals as Bris Vegas, this city has plenty to offer.  Characterized by the curvy Brisbane River, mountainous backdrop, leafy suburbs, numerous parklands, recreational areas, convention centers, art galleries, museums, extensive shopping district, casino and countless cosmopolitan restaurants and cafes ensures that there is always plenty to see and do.  Above all, Brisbane is renowned for its unique landscapes, proximity to major attractions, (Gold Coast, Sunshine Coast, Moreton Island, Stradbroke Island) lifestyle and envied climate keep residence and guests smiling all year round.  

Brisbane Market Overview 

Brisbane, accounting for 40% of Queensland’s growth is continuing to attract an abundance of migrants both interstate and overseas.  A combination of a strong economy, unmatched lifestyle and affordability are the key drivers for the high demand for Brisbane’s property and lifestyle.  

  • Capital city of Queensland
  • Strong economy
  • Ideal stable climate
  • High property demand 
  • Growing population
  • Continual development and opportunities
  • 1 hours drive to famous Sunshine Coast and Gold Coast

While Brisbane is rumored to be faced with the ‘affordability question’ suggesting declines in buyer confidence and ultimately in property growth,  the most recent Real Estate Institute of Queensland (REIQ) data from the June 2006 quarter presented positive returns in most major centres in the State’s South East.   The research suggests that buyers are split into two segments: 

  1. Apartment living closer to the CBD due to higher housing prices
  2. A shift to the outer more affordable suburbs that are still within 15km of the CBD with median prices at around $310,000. 

Brisbane's Top 10 Growth Suburbs

Top ten growth suburbs by median sale price growth over 12 months - Metropolitan Brisbane

 Suburb June Qtr 2007   Median June 2007 Median June 2006   % Change over 1 year   % Change over 5 years
 Brisbane (LGA)  $434,000  $405,000  $370,000  9.5%  84.1%
 Brisbane (SD)  $3666,250  $350,000  $320,000  9.4%  100%
 Newstead    $1,137,500  $750,000  51.7%  N/A
 Belmont  $516,000  $495,000  $375,000  32%  120%
 Murarrie  $358,676  $415,000  $317,800  30.6%  108%
 Auchenflower  $730,000  $655,000  $505,000  29.7%  77%
 Hamilton  $1,002,500  $1,056,250  $818,750  39%  170%
 Albion    $490,000  $380,500  28.8%  64.7%
 Lota  $465,000  $440,000  $345,750  27.3%  109.5%
 Newmarket  $570,000  $539,000  $425,000  26.8%  92.5%
 Manly  $635,000  $550,000  $437,500  25.7%  68.4%
 Ashgrove  $605,000  $558,620  $450,000  24.1%  86.2%

 *Source: REIA Market Facts 

South East Queensland's Top 10 Growth Suburbs

Top ten growth suburbs by median house price growth over 12 months - SEQ Local Government Areas

Suburb June Qtr 2007   Median June 2007 Median June 2006   % Change over 1 year   % Change over 5 years
 Logan  $310,000  $282,000  $255,000  10.6% 130.2%
Beaudesert  $353,500  $345,000  $331,500  10%  141.3%
 Pine Rivers $354,500   $336,000  $306,000  9.8%  115.4%
 Brisbane  $434,000  $405,000  $370,000  9.5%  84.1%
 Redland  $395,000  $380,000  $350,000  8.6%  105.4%
 Ipswich  $274,500  $255,000  $235,000  8.5%  180.2%
 Caboolture  $309,950  $290,000  $270,000  7.4%  123.1%
 Caloundra $429,000   $407,000  $380,000  7.1%  113.1%
 Redcliffe  $330,000  $315,000  $295,000  6.8%  103.2%
 Gold Coast  $439,500  $420,000  $395,000  6.3%  86.7%

  *Source: REIA Market Facts 

Brisbane Apartment/ Unit Sales 

Brisbane city Unit sales have faired slightly better according to recent reports from the REIQ with a growth of 0.8%.  "Units in Brisbane itself showed better growth than in surrounding shires due to the fact that more young buyers are purchasing a unit closer to the CBD in favor of house further out," Ms Bergin Research manager for REIQ commented.  It appears that affordability issues are actually benefiting the CBD apartment market whereas units in most surrounding shires have declined in most cases.

Brisbane's Outer Suburbs

Recent REIQ reports recorded growth in house prices in many outer Brisbane suburbs, confirming the market predictions of Home Owners looking to outer suburbs within 15km from the CBD that are accessible to shopping centres due to affordability.  "Essentially, the suburbs that recorded small or moderate increases in their median price were those with aggregate medians under $400,000. And importantly, these suburbs are also seeing more sales activity than higher priced suburbs," Ms Bergin REIQ Research Manager of REIQ commented.   It was also found that a number of suburbs further out of Brisbane saw even higher growth, once again due to the pressure of affordability.

While real estate experts and economists predict a slight downward slide to Brisbane’s property market for the next two years, continued positive migration, the continuing commodity boom and reasonably low interest rates should ensure that slide is not a dive.  BIS Shrapnel’s chief economist Frank Gelber holds his optimism.  “The Brisbane market is poised for a strong upswing at the end of the decade,’’ he wrote in The Australian. “Indeed, it is the only market which could strengthen a little earlier.’’ 

Australia's Capital City Market Comparisons

Median House Prices

March Quarter 2007 

Capital City

Current Value 

Last Qtr (change since)

Same Qtr Last Year (change since) 
 Sydney  $3516,500  -1.1% -0.1%
Melbourne   $380,000  -3.3%  6.7%
 Brisbane $345,000   1.6%  6.2%
 Adelaide  $302,000  2.4%  8.2%
 Perth  $455,000  -0.4%  26.4%
 Canberra  $395,000  -0.8%  5.3%
 Hobart  $294,000  1.4%  4.1%
 Darwin $390,000   5.4%  16.4%

*Source: REIA Market Facts 

Median Weekly Rents - 3 bedroom houses 

 

Capital City

Current Rent 

Last Qtr (change since)

Same Qtr Last Year (change since) 
 Sydney  $280  1.8% 5.7%
Melbourne   $250 4.2%  8.7%
 Brisbane $280   3.7%  9.8%
 Adelaide  $250  2%  6.4%
 Perth  $280  3.7% 16.7%
 Canberra  $342.50 3.8%  10.5%
 Hobart  $270  3.8%  8%
 Darwin $340  7.9%  13.3%

 *Source: REIA Market Facts 

Vacancy Rates  - all rented dwellings

Capital City

Current Rate 

Last Qtr 

Same Qtr Last Year  
 Sydney  1.4%  1.5% 2.0%
Melbourne   1.2% 1.7%  1.8%
 Brisbane 1.7%   1.5% 1.5%
 Adelaide  0.9%  0.5%  1.7%
 Perth  0.8% 1% 1.4%
 Canberra  1.3% 1.6%  1.8%
 Hobart  2.3%  2.3% 2.2%
 Darwin 1.2%  4.6%  3.3%
  *Source: REIA Market Facts 

Residential Investment Property Returns - 3 bedroom houses

Capital City

Annual Yield 

Annual Return

Avg Return over 10yrs (Dec 96 - Mar 07) 
 Sydney  2.3%  2.3% 11.9%
Melbourne   1.7% 8.5%  12.6%
 Brisbane   3.4%  10%  13.8%
 Adelaide  3.4%  12.7%  14.7%
 Perth  2.6%  32% 16.7%
 Canberra  3.6% 9%  14%
 Hobart  3.8%  7.9%  15.2%
 Darwin 3.6%  20.3%  13.7%

  *Source: REIA Market Facts 

Looking forward in Brisbane  

Strong migration over the next 20-25 years is predicted to put Brisbane in second place of Australia’s cities in front of Melbourne.   575,000 homes will be built to accommodate growth expanding from Noosa to Coolangatta.  New housing will be concentrated around public transport and “activity centres” including workplaces, educational, health/community facilities and shopping centres. While many of these will be existing centres others will be  purpose-built. Higher density accommodation will replace traditional housing with apartment blocks, units and townhouses in these locations.

The “activity centres” concept in the Government infrastructure plan is aimed at reducing the huge amount of traffic commuting across the city and across the southeast region each day. The idea is that people will live close to centres, based on key public transport hubs and they will catch buses or trains to work, shops, government services and recreation and leisure facilities.

Brisbane's Major Projects  - catering for growth

  • $2 billion of rail development on the Sunshine Coast including additional lines
  • $590 million to add a rail line from Corinda to Redbank and a new line from Darra to Springfield.
  • $500 million for a rail line to Coolangatta.
  • $1.2 billion + for new busways in Brisbane
  • Building height limits in central Brisbane will be removed and cars discouraged
  • Underground city rail circuit
  • Underground bus network
  • Mass transit system connecting West End, the City and Fortitude Valley.
  • Roma St, Edward St, Victoria Bridge and the top of Melbourne St will become pedestrian-friendly, tree-lined boulevards with traffic calming.
  • Three new pedestrian and cycle bridges over the river and a bus bridge from Adelaide St. to South Bank.
  • New plazas at Melbourne St. and Eagle St. and a riverside plaza at North Quay.

In twenty years time Brisbane will be transformed into a “Super City”, leaving whispers of a once small country town to the original Brisbane locals.