Carseldine is Among Top Brisbane Suburbs for House Price Growth in 2018

Photo Credit: Google Earth Pro

Annual house prices across Australia recorded its biggest drop in 15 years and Brisbane showed flat growth in 2018. Carseldine, however, performed better as it posted house price growth, according to the latest figures from Domain.

The recently released Domain House Price Report for December 2018 quarter, showed house prices in Brisbane falling 0.20 percent quarter-on-quarter, with several suburbs emerging resilient and managing to post price growths over the 12 months.

With an 8.9 percent year-on-year house price growth and a median price of $621,000, Carseldine was the ninth best performing suburb in Brisbane. On the other hand, latest suburb data from realestate.com.au shows the median house price for Carseldine at $642,500, higher than the QLD median price of $490,000. A total of 162 houses changed hands from Feb 2018 to Feb 2019.

Sandgate was best performing Brisbane suburb for houses in 2018, in terms of year-on-year price increase, with an 18.8 percent growth and a median price of $750,000. Six other suburbs had price growth above 10 percent: North Ipswich (17.3%), Hammant(12.5%), Kenmore(11.8%), Graceville(11.8%), Paddington(10.7%), and Bardon(10.1%). Burpengary East and Brookfield round out the top 10 with 9.4 percent, and 8.8 percent growth, respectively.

For the December quarter 2018, Brisbane property market posted an almost flat year-on-year growth, wiping out its previous quarters gains. Industry experts point to the tighter credit access that’s crippling housing market in other capital cities, as the reason for the slowdown. Optimism still remains high, though, as Brisbane housing market continues to ride on Queensland’s strong fundamentals.

Tower Ad

Queensland remains to be a favourite among interstate migrants and overseas buyers; with QLD’s improving economy, better job prospects, and great schooling. With these factors considered, Brisbane housing market is seen to remain stable, if not growing.