Brisbane housing values moved through a 25th month of consistent growth in February, but the 0.2% monthly gain was one of the smallest of the cycle to date.
The rise was mostly supported by a 0.7% lift in unit values, while Brisbane house values were unchanged over the month. Similarly, the upper quartile of the market has been the main drag on growth, with values falling 0.2% in February, compared with a 0.7% rise in values across the lower quartile of the market.
Over the past five years, Brisbane dwelling values have surged by 69.7% or by around $367,000, fuelling affordability and serviceability challenges that are likely to be deflecting demand towards the lower price points of the market.
Brisbane house prices graph
Brisbane house prices – the longer-term data
CoreLogic’s data shows how Brisbane house prices have rapidly risen and fallen over the longer term, and the extreme dwelling value changes over the past few years in particular.
The Brisbane property market upswing in 2021 was one of the strongest property price growth periods in Australia’s history.
And it was followed by an equally historic drop in prices in the 12 months that followed.
Even today the city sets records for its dwelling values, having recovered to pandemic highs.
Looking further back, over the past 30 years, Brisbane dwelling values have increased by a whopping 340% (5.1% per annum), with the highest rate of growth recorded through the middle decade (2002-2012) when housing values were up 74%.
In comparison, dwelling values increased by 49% between 1992 and 2002, and by 71% over the most recent decade.
House values have increased by more than double the number of unit values across Brisbane, making for the largest 30-year growth differential between houses and units across the capital cities.
Houses recorded a 30-year growth rate of 390%, equating to a dollar value increase of approximately $703,700.
Over the same period, unit values were up 170%, or approximately $317,670.
The highest 30-year growth rate across Brisbane’s SA3 sub-regions was a 613% gain in house values across the Inner East, taking the median value approximately $1,344,120 higher.
