Tarragindi: Among Top Suburbs for House Price Growth in Brisbane

Tarragindi is among the top suburbs for house price growth in Brisbane, as the capital city continues to defy the current downward trend affecting the nation’s housing market with a new all-time high median-price for houses over the past year.

The Gold Coast and the Sunshine Coast SD recorded growth of 3.8 percent and 6.3 percent, respectively, according to the September quarter of the REIQ Queensland Market Monitor report. Brisbane, on the other hand, posted a 2.3 percent increase from last year, hitting a new median-price high of $675,000.

“Queensland’s economy is proving itself to be a good performer, against a backdrop of national gloom, with new jobs bringing population growth and demand for housing,” REIQ CEO Antonia Mercorella said.

“The southeast corner is our powerhouse, without a doubt, but additionally we’re seeing strong results in regions that have been struggling.

“The resources sector is improving and we’re seeing regions such as Mackay and areas of western Queensland firmly in recovery,” Ms Mercorella said.

Kuring Gai Ave, Tarragindi, Queensland

The sought-after price range for Brisbane LGA is $500,000 – $750,000, representing almost half of the house sales for the past 12 months. The top suburbs for house price growth in Brisbane include Bardon, Brighton, Ashgrove, Wavell Heights, Bald Hills and Bridgeman Downs, Wynnum, Tarragindi, Eight Mile Plains, Mount Gravatt East, and Manly West.

It was a different story for the units market, though, as oversupply continues to put a dent on units price. Brisbane LGA annual median unit price dropped by 2.2 per cent and 3.4 per cent over the past quarter. It, however, managed to register a 5.5 percent growth over the last five years.

Despite the drop, eight suburbs still managed to post double digit growth, with Rochedale leading with 64.80% increase from last year. West End, Gordon Park, North Gate, Yeronga, Toowong, New Market, and Red Hill rounds out the list of suburbs with double-digit growth for units.