The suburbs where unit prices are decreasing amid Brisbane's housing market Boom
New data shows some suburbs of Brisbane are becoming more affordable as housing prices hit record highs in south-east Queensland.
Housing prices are expected to continue to rise in the city throughout the year, making it the fastest market to grow among Australian capital cities.
A boom in population has led to an increase in Brisbane's average unit price, which has reached $437,000.
According to Alice Stolz, Domain managing editor, the price has risen 3.1% just this year.
Domain data reveals some properties are cheaper in some south-east Queensland suburbs compared to last year.
Some apartments are costing approximately 12 per cent less while some Indooroopilly apartments are down by only 6.6 percent.
But Place real estate agent Alex Rutherford said not all properties had felt the dip, encouraging those on the market to do their research to find the best price.
"It's largely properties that were sold off the plan five to 10 years ago and are now reselling, yes lower than they were then but it's only a small segment of the market," Rutherford said.
Particularly with the end of the financial year quickly approaching, some investors want to sell their properties before June 30th, Rutherford explained.
Stolz said with the price of property buying and building on the rise, now could be the ideal time to purchase a new home.
"Knowing that we're seeing such pressure in the construction industry, pipeline is really driving up in the development space, having a building in front of you with a key in your hand could be your way into the market."
Whether you’re looking at buying your next home or looking at that next investment property, contact Coco Beyond today and find out how we can help set you up for the ever-changing future.
