The comparative strength in Brisbane is showing up at a local area level . Unlike in Melbourne and Sydney , not all suburbs are recording price drops . More similarly though is that the areas that are the top performers over the past 20 years , and through COVID , have seen the biggest declines . Inner Brisbane is the most expensive region and has also seen the biggest declines . In contrast , lower priced areas are still increasing , perhaps driven by investor interest in these areas , as well as lower mortgages . Jimboomba has seen prices rising by almost $ 30,000 since last February .
The outlook for Brisbane is for continued shortages of homes . Brisbane saw very high levels of interstate migration during the pandemic and most of these migrants would have rented . Anecdotally , many of these renters are looking to become buyers . While interstate migration has slowed , international migration has started up again . Rental growth is continuing and it looks like price growth that ’ s following will also continue .
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