As home prices hit record highs in south-east Queensland, new data shows that units in some suburbs of Brisbane are getting cheaper.
The city’s housing market is the fastest growing in any Australian capital, with housing prices slowing to continue to rise year-round.
As the city sees a population boom, the average unit price in Brisbane has reached $ 437,000.
“This year alone has increased by 3.1%,” said Alice Stolz, domain editor.
Brisbane is the fastest growing real estate market in any Australian capital. (Getty Images / iStockphoto)
Domain data show that some units in some southeastern suburbs of Queensland are cheaper than in 2017.
In the suburb of Windsor, Brisbane, data show that the average unit price has fallen by 15 per cent.
In Beenleigh, properties are on average 12.7% cheaper than five years ago.
The average unit price has dropped in several major suburbs of Brisbane. (new)
Some Milton apartments cost about 10 percent less, while some Indooroopilly apartments are down 6.6 percent.
But Place real estate agent Alex Rutherford said not all properties had felt the fall, and encouraged marketers to investigate to find the best price.
“They’re mostly properties that were sold off the plan five to ten years ago and are now selling, yes, below what they were then, but it’s only a small segment of the market,” Rutherford said.
Real estate experts say now may be the perfect time for young homebuyers to buy a home. (new)
On the Gold Coast, house prices are rising.
The only suburb where unit prices have dropped in the last five years is Coomera.
Real estate experts say now could be an ideal time for young buyers to enter the real estate market, as prices are expected to rise again in the Southeast.
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“Especially with the arrival of the end of the year, there are investors who obviously want to sell their properties before June 30,” Rutherford said.
Stolz said with the rising price of buying and building properties, now might be the perfect time to buy a new home.
“Knowing that we are seeing so much pressure on the construction industry, the pipeline is really rising in the development space, having a building in front of you with a turnkey could be your path to the market.”