From market darling to worst performing capital: Brisbane's rapid reversal
Dwelling values fell 1.5 per cent in September, listings are piling up and sales activity has slumped, but Brisbane's rental market and long-term housing shortage continues to provide some support.
The sun has set on Brisbane’s property boom, which has given way to a market where buyers have more choice and significantly more time to negotiate. (Image source: Nick Fox/Shutterstock.com)
The Brisbane market has clearly lost any of its previous momentum.
Cotality recorded a 1.5 per cent fall in dwelling values in September, the largest monthly decline of any capital city, taking Brisbane 5.4 per cent below its May peak.
That sounds confronting in isolation, but there is context to factor in.
Brisbane values are still 5.9 per cent higher than a year ago and 0.1 per cent higher year-to-date. The market has gone from very strong gr…
