This week I’ve published my new 2021 edition of the Top 5 Brisbane Hotspots report.
And it’s timely because activity in the Brisbane property market is occurring at levels I haven’t seen since the national property boom at the start of this century.
Every three months I analyse sales activity and prices for every suburb and town in Australia and I’ve just completed the analysis for the Brisbane metropolitan area.
This reveals that the number of growth markets in the Greater Brisbane Area has quadrupled since mid-2020, creating the strongest market in the six years of these quarterly surveys.
The uplift in sales activity in the past six months has been extraordinary.
The survey has identified 124 Brisbane suburbs with rising sales activity, compared to 56 in the previous survey and just 28 in the mid-2020 survey.
This means the number of growth suburbs doubled in six months and then doubled again within three months.
When sales activity is so elevated, strong price growth is inevitable.
The northern precincts continue to be market leaders in Brisbane.
The Brisbane-north precinct and the Moreton Bay Region jointly have 51 growth suburbs, including 31 in the Moreton Bay region, which is a record for any LGA across Australia in the six years of these surveys.
This means that three-quarters of the ranked suburbs in the Moreton Bay Region have rising sales activity, a circumstance that makes strong price highly likely in 2021.
The Brisbane-north precinct, which has 20 growth suburbs, continues to impress as one of the strongest of the city’s sectors.
But the growth momentum is occurring throughout the Brisbane metropolitan area.
It doesn’t surprise, therefore, that Brisbane markets have been performing well on price growth, with three-quarters of suburbs across the metropolitan area recording uplift in their median house prices in 2020.
In the most recent quarter, 76% of suburbs had some level of price growth.
House price growth has been spread across the Brisbane metropolitan area.
The upper end of the market has been leading, but there are suburbs with double-digit growth in their median prices in the middle-ring suburbs and in the outer-ring areas.
The overall picture for Brisbane is a market which is poised for the highest growth experienced in 20 years.
So have a read of our new 2021 edition of the Top 5 Brisbane Hotspots report, to find out where I expect the best growth to occur in this rising market.