Over a 15 year period, Brisbane’s median house value has increased from $134,615 in 2000 to $585,000 as at December 2014, but it is still the second most affordable capital city housing market right now, according to a recent study from Propertyology.
The firm has ranked each of Australia’s 550 local government authority property market performances since the turn of the century concluded that 26 of Queensland’s 63 LGAs performed better than the state’s capital city property market. Because some property markets have higher rates of growth and others have higher rental yields, Propertyology calculated the ‘total return’ (average annual growth rate plus rental yield) to rank the LGAs.
In spite of the recent price downturn in some mining-related property markets, the LGA of Isaac (which includes the traditional mining towns of Moranbah and Dysart) was Queensland’s best performing property market for the fifteen year period 2000 to 2014. In fact, Isaac is officially the third best performing market out of 550 across Australia.
Seven Queensland regional locations featured in Australia’s Top 20 best performed markets. The large regional cities of Rockhampton, Gladstone and Mackay all performed better than Brisbane. Smaller towns such as Warwick, Emerald, and Mount Isa also performed better than the state capital. Greater-Brisbane was Australia’s third best performing capital city over the 15 year period and is currently the second most affordable capital city housing market, after Hobart. Brisbane property values increased by a whopping 93.2 percent for the 3 years ending 2004, including growth of 36.6 percent in 2003.