Brisbane – price growth takes a break
The Brisbane market is finally taking a breather . After a record run in house price growth , prices peaked in April 2022 , just in time for the first rate rise in May . Since April , prices have pulled back a tiny bit with the median for houses down 1.6 per cent . Brisbane is entering a golden decade in the lead up to the Olympic Games in 2032 , and with it , significant growth in employment demand . With affordability now at an all time low , this slow down in price growth will no doubt come as a relief to many .
While affordability for buyers has improved marginally over the last few months , this isn ’ t the case for renters . Advertised rents are now at an all time high and growth is expected to continue . International borders are back open which means population growth will return to more normal levels . Combating that , however , will be a housing supply shortage . Construction cost problems have now morphed into higher rates of insolvencies for builders and developers . Flooding and significant infrastructure spending in the state is also resulting in higher levels of demand for builders . Trying to get firm prices or timelines for new developments is difficult . Fewer homes and more people will eventually flow through to house prices .
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