Brisbane apartment price decline continues: Domain

The median house price in Brisbane declined by a marginal 0.1% over the June quarter, reaching $566,322, according to Domain.

Despite the quarterly fall, the median house price rose by 2% year-on-year. 

The median unit price in Brisbane fell by 1.2% over the June quarter to $379,186. This represents a fall of 6.4% year-on-year. Unit values are now back to prices seen in early 2014, following four consecutive quarters of decline.

“While house prices have risen for five consecutive years, the rate of growth has been modest compared to the rest of the east coast, making Brisbane comparatively affordable," Domain data analyst, Dr Nicola Powell.

“This will continue to attract investors and residents from other capital cities.

“A heightened supply of inner-city units has contributed to the decline in median prices in Brisbane. However, as housing construction slows down and we see a boost in interstate migration, we can expect to eventually see the unit market balance out,” said Dr Nicola Powell.