There’s a strong argument that Brisbane is the strongest of the major markets around Australia.
Two-thirds of suburbs have rising sales activity and almost 90% have rising prices. Our Autumn 2021 survey of sales activity earlier this year identified 124 rising suburbs, easily a record for Brisbane. But our latest quarterly analysis, the Winter 2021 survey, has smashed that record, with 141 suburbs with rising sales activity, and for the first time in five years, there are no suburbs we rank as declining or danger markets.
There are large numbers of growth suburbs right across the Greater Brisbane Area, led by Moreton Bay Region (28) and Logan City (25). The big improver is Ipswich City, which three months was still lagging the rest of Brisbane and had only five growth suburbs. Now, of the 14 Ipswich suburbs ranked in the quarterly survey, 11 are classified as growth suburbs. There are also notable numbers of rising suburbs in the Brisbane-east, Brisbane-south and Redland City precincts.
When we did our prices analysis three months ago, 76% of suburbs had delivered annual growth in their median house prices. Hotspotting’s latest analysis finds that 89% of suburbs have had growth in the past year. Similarly, there has been improvement in the apartment markets, from 56% to 64% of suburbs recording annual growth in their median unit prices.
Queensland is gaining more from the biggest trend in Australian real estate – the Exodus to Affordable Lifestyle – than anywhere else in Australia. The official population data shows that Sydney and Melbourne are losing population to internal migration and the No.1 beneficiary, by far, is Queensland.
This is reflected in the data on sales activity and prices. Our Winter 2021 survey for The Price Predictor Index shows that the record performance of Regional Queensland on sales activity and prices has been maintained – with the number of rising markets down only slightly on the previous quarter.
There are growth markets throughout the state, and consecutive quarters of rising sales activity are translating into major price growth across the regional areas of Queensland.