Welcome to another exciting episode of the Brisbane Property Podcast! In this edition, hosts Melinda and Scott Jennison will provide you with a comprehensive update on the ever-evolving Brisbane Property Market.
In September, Brisbane's property market continued to exhibit remarkable strength. We'll explore the significant growth in both houses and units, with house prices in Brisbane rising by 1.4%, reaching a median value of $848,680. The story for units is equally promising, with a 1.1% increase in September, bringing the median value to $539,169. We'll discuss how units have displayed resilience, particularly in terms of rental price growth, despite moderated growth rates over the quarter.
Our episode won't be complete without shining a light on the rental market in Brisbane. Vacancy rates have consistently remained low, dropping from 1% in July to 0.9% in August and back up to 1% in September. However, we'll explore the intriguing phenomenon of rental price growth slowing down, as houses recorded an annual increase of 6.4%, down from 11.2% earlier this year. Meanwhile, unit rents have shown a robust rise of 14% over the past year.
As we step into October, our episode forecasts the Brisbane property market's future heights in the coming weeks. We'll discuss the ongoing rapid rise in prices and the fierce competition among buyers, emphasizing the need for quick transactions. For sellers, this could be the perfect time to list, with a multitude of eager buyers actively contributing to the upward pressure on prices.
In summary, Brisbane's property market is on an upswing, driven by factors such as strong migration, tight rental markets, and housing shortages. Join us as we navigate these trends and provide you with expert insights into what lies ahead for Brisbane's property market in the near future. Don't miss out – hit that play button now!
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EP 164 – The Key to Success Lies in Finance-Strategy Match
EP 163 - Seller Disclosure Obligations in Queensland are Minimal!
EP 162 - The Pros and Cons of Automated Valuations in Brisbane
EP 161 - Brisbane Property Market Update - June 2023
EP 160 - Antonia Mercorella: CEO of the REIQ and her drive for industry advancement
EP 159 - Does High Growth + High Yield exist in Brisbane?
EP 158 - Building a better Brisbane: Inner City Strategy unveiled
EP 157 - Brisbane Data Update with Tim Lawless
EP 156 - Brisbane Property Market Update May 2023
EP 155 - Why you can’t trust property price forecasts in Brisbane
EP 154 - Brisbane’s proposed flight path shake-up
EP 153 - Which suburbs are at risk of Mortgage Default in Brisbane?
EP 152 - Brisbane Property Market Update April 2023
EP 151 - Our Journey with Rhys and Michelle
EP 150 - Brisbane is growing, where will everyone live?
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