Source:  Domain.com.au If you've been trying to buy property in Brisbane during the past year, no, you are not the only one feeling the pain and no, it is not your imagination - prices really are rising quickly. Brisbane's median house price is now $924,498 - that's nearly $103,000 more than it was this time last year and a whopping $324,000 more than it was four years ago. In the Carindale SA3 region, which includes suburbs like Camp Hill, Carina Heights and Carina, house p...

Source:  Courier Mail Record immigration continues to put upward pressure on home prices in most markets but the overall effect if dramatically different from city to city and state to state. Home values are still rising across Australia, with the national median price up 8.8 per cent over the past 12 months and the hottest markets currently being Western Australia and Queensland. However, we are seeing differences in the rates of price growth between states and territories. In the st...

Source:  Courier Mail Southern migrants are helping to underpin the Queensland property sector, which has been described as the strongest in Australia. Population growth has put Queensland on the map for major property investors, and the Sunshine State is set to continue to attract big money at the expense of its southern rivals. Despite yields across all sectors softening in line with the rest of Australia because of higher interest rates, Consolidated Properties Group chief executiv...

Source:  CoreLogic The median weekly rent value across all Australian dwellings has hit a fresh record high of $627 per week, and rental costs range from $770 per week in Sydney, to $547 in Hobart. Summary of median weekly rent and value change data as of April 2024 Region Median weekly rent Quarterly change in rents Annual change in rents Sydney $770 3.0% 9.0% Melbourne $589 2.8% 9.6% Brisbane $649 2.1% 8.5% ...

Source:  Domain The rise makes Brisbane the second most expensive capital in Australia to rent a unit at $590 per week as of the March quarter – yet five years ago the city was the fourth most affordable. The priciest capital remains Sydney, where median weekly unit rents are $700. The figures, released today in the latest Domain Rent Report, revealed it’s the 11th consecutive quarter of growth for Brisbane unit rents and the steepest in about 15 years as the city battles a...

Source:  CoreLogic CoreLogic's national Home Value Index (HVI) rose 0.6% in March, on par with February’s increase, taking the current upswing in housing values through its 14th straight month of growth. Since declining -7.5% between April 2022 and January 2023, the national HVI has increased 10.2%, or, in dollar terms, by approximately $71,832, rising to new record highs each month since November last year. Adelaide and Brisbane had 1.4% and 1.1% growth. The remaining ...

Source:  Judith Kerr Owners of businesses in a once-bustling southside retail hub that are the latest target of the state government’s wrecking ball to meet rail needs have balked at the “unfair” price offered for the resumption of their properties. Southside landowners, whose businesses are being compulsorily resumed by the state government for a new fast rail train station, claim they are being ripped off while being forced out of sites they have worked from fo...

John Leeson was recently awarded a Fellowship of the REIQ, in recognition of his dedication to the real estate profession, long-standing membership with the Australian Property Institute and commitment to REIQ values. A Fellow is a practising member who has completed a total period of 15 years membership and who has been appointed by the Board for satisfying specified criteria. Fellows exemplify a high standard of professional conduct, an ongoing commitment to professional development and a...

Source: Carwardines Land Court Win Recently Leeson Valuers represented a client to have the Land Value of an Industrial Property in the Enoggera Industrial Precinct reduced. Last year the Land Value was $1,350,000.  This year the Valuer General increased the land value to $2,400,000! A 70% increase when both Stafford and Kedron Industrial areas received a 0% increase. Following a big fight in the Land Court the good guys came out with a fairer valuation of $1,750,000. The proble...

Source: CoreLogic After recording stronger growth and milder declines through the recent cycles, a new analysis of Australia's regional housing markets shows many areas have lagged their capital city counterparts over the past year. Since bottoming out in January, values across the combined capitals have risen to new record highs, while the combined regional market remains -2.5% below the peak recorded in May 2022. However, CoreLogic Economist and report author Kaytlin Ezzy s...