Brisbane's Extraordinary 3 Year Growth

This week Mia and I made a close review of some of Brisbane's key performing suburbs of 2022 and uncovered some incredible results. If you follow the sharemarket, there's certainly some parallels in the performance of both markets. Some years perform extraordinarily well, some years may correct and what is most important is to look at the average performance over a medium to long term snapshot.?

Real estate is a fascinating industry and a popular topic of social conversation with most friends asking how's the market. So if you are curious, we hope you are like us and find the 3 year trend interesting.

In summary, 2021 was strong, 2022 steady and looking overall at the past three years, the performance?overall in Brisbane particularly compared with the rest of the nation, is quite simply extraordinary.?

Let's take a look at the top 2 postcodes:

Number 1 | 4005

Brisbane's top performing postcode for 2022 is 4005. Teneriffe is officially now the city's most expensive suburb, achieving the highest median price point of $3.05m, with New Farm coming in second at $2.55m

While growth over the past 12 months has been stable, this is mainly due to the suburb remaining tightly held and highly sought. According to RP data, growth over the past 3 years has been a staggering 63%.

Number 2 | 4007

The?4007?postcode has completed 2022 clearly retaining its well deserved ranking as one of Brisbane's most exclusive postcodes. Ascot ranked in 3rd position followed closely by Hamilton in the 4th spot, according to research from respected property portals Domain and Realestate.com.

In the past 12 months, the median house value grew by just over 20% in this postcode, stock was even more tightly held than 2021 with close to a 40% drop in homes offered for sale, keeping prices high. Again, RP data reports that the median house price has increased by around 66% over the past 3 years.

Next week, we will be looking closely at some more interesting facts for 2022 as well as giving you our hot tips on where to buy in 2023 and where to expect some great medium to long term returns, We are really excited about the outlook for Brisbane.?

This Week's Top 10 Sales

Another massive week for the Brisbane prestige market, with a huge $5,760,000 sale at the top of this week’s charts and all ten properties selling for over the $3,000,000 mark. Take a look at the full top 10 below!?

1. 59 Hunter St, Indooroopilly $5,760,000

2. 22 View St, Paddington $4,600,000

3. 37 Waterline Cr, Bulimba $4,300,000

4. 91 Mowbray Tce, East Brisbane $3,660,000

5. 54 Union St, Clayfield $3,630,000

6. 71 Robertson Place, Fig Tree Pocket $3,600,000

7. 311/51 Ferry Rd, West End $3,500,000

8. 14 Doyle St, Coorparoo $3,100,000

9. 43 Wilden St, Paddington $3,075,000

10. 24 Magdala St, Ascot $3,057,000

?*Top?10?Results are based on publicly available data, auction results, and data provided by agents. Data is deemed reliable at the time of publication but Christine Rudolph and Ray White New Farm neither?warrants?its accuracy or accepts any liability in relation to its use.

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We have some beautiful properties available to view over the festive season. From this weekend, our inspections will be by appointment as our lovely sellers prepare to host friends and family for the festive season.

If you are interested in any of our homes, please contact me, or if you would like Mia and I to help you prepare to launch your property in the New Year, we would be delighted to assist you.

Have a lovely weekend and we look forward to bringing you our 2023 predictions in our final edition for the year next week.?

Warm regards,

Christine