Brisbane to be strongest 2015 capital behind Sydney: Domain Group

The Brisbane housing market recorded another encouraging year of house price growth over 2014, according to the Domain Group senior economist, Andrew Wilson.

Brisbane’s median house price increased by 5.9% over the year compared to 5.1% over 2013.

Source: Domain Group

He noted Brisbane’s housing market revival was late compared to most other capital city housing markets, which were driven by the sharp cut in interest rates in 2012-13, but it is "now squarely on track".

"Prices growth has been particularly solid in the mid to upper price ranges in inner and middle ring suburbs," Wilson said.

"Activity in outer suburban budget priced suburbs, however, has continued to be subdued with high listing numbers and continued concerns over unemployment and job security constraining buyer confidence."

Source: Domain Group

Wilson advised he thought Brisbane’s revival gathered pace over spring last year with rising auction numbers reflecting increased confidence in the marketplace from sellers.

"Activity levels in the auction market have continued to rise early in 2015 with record late summer listings reported," he said.

Brisbane median house prices are set for another solid result through 2015, rising again by between 5 and 7%, which will likely be only behind Sydney in terms of capital city performance. 

Source: Domain Group

"Sydney is poised to retain its position as the leading capital city performer with house price growth outstripping the national growth projection," Wilson said.

"Brisbane is expected to be the next best performer as its housing market revival continues.

“Sydney and Brisbane are set to be the best performers over the year, with 8% and 6% growth forecast respectively."