Brisbane unit prices dropped 4% in December quarter: REIQ

Brisbane's median unit price decreased 4% to $389,000 over the December 2012 quarter but posted a mild 0.3% increase over the year, according to the latest figures from the Real Estate Institute of Queensland (REIQ).

REIQ CEO Anton Kardash said a marked rise in the number of sales of units priced between $250,000 and $350,000 had reduced the overall median price.

“Inner Brisbane suburbs continue to do well with median prices in New Farm and South Brisbane all posting solid price growth,” Kardash said.

“Brisbane’s middle-ring suburbs have also recorded some good results with Mount Gravatt East edging up 6.6% over the quarter and Morningside recording growth of 9.9%.”

The REIQ’s December Queensland Market Monitor (QMM), released last Friday, showed the number of unit and townhouse sales in Brisbane was up 16% when compared to the December 2011 quarter.