All signs point to Brisbane property recovery

At the same time, the buyer’s agent said SQM Research had shown that asking prices across the state’s capital had also seen increases, up half a percentage point.

This represents a total 2.8 per cent positive 12-month change, Ms Jennison said, correlating well with median price growth changes.

Over the year, Ms Jennison noted that high demand was consistently better for inner-city suburbs compared with fringe suburbs.

Citing data from the Herron Todd White Residential December 2019 report, she noted how “cashed up interstate migrants” searching for high-quality lifestyle-oriented homes had played a role in this.

Desirable school zones have also contributed to price growth potential in the city, with Ms Jennison considering “higher demand in locations with good school catchments translating to premium prices”.

Again pointing to Herron Todd White analysis, Ms Jennison highlighted that Brisbane is at the start of its recovery in the housing market, while it has hit the bottom of the unit market.

As a result, she considered there to be “very good prospects for capital growth across our city in the near future”.

“Brisbane currently presents with excellent indications of sustained, long-term capital gains, particularly in the detached housing market,” the buyer’s agent concluded.