Melinda Jennison

Now compared to Melbourne, which changed 0.1% and Sydney, which changed 0.2%, that's a very different price growth momentum.

Now, of course, different segments of the market in Brisbane are performing slightly differently as well.

And I'm happy to unpack that.

That is correct.

And I believe a lot of this has come down to affordability pressures because housing's become less affordable and less accessible to a lot of people.

So more buyers have therefore pivoted to units and townhouses.

Now, for perspective, over the last 12 months,

The unit market here in Brisbane has escalated 18.3% compared to the house market, which has increased 15.1%.

Now, compared to other capital cities around Australia, both segments of the market have certainly outperformed, but the unit result here in Brisbane is unique to our city.

And a lot of that has been caused by a lifestyle change, demographic demand for inner and middle ring locations and that affordability pressure that I discussed earlier.

Yeah, that's so true.

And it's a tough gig for people that are tenants looking for rental properties, because if they're looking for houses, rents have escalated 6.3% over the last 12 months.

But if they're looking in the unit market or the townhouse market, it's even worse.

Rents have escalated 6.8%.

over that timeframe.

So when we talk about those cost of living pressures, as rents increase, it simply means that a higher portion of take home income is going towards housing costs.

And that's hard for some people in some markets around our city.

It is a very competitive market, especially here in Brisbane.

And a lot of that is coming from urgency and that fear of missing out from buyers.

As a buyer's agent team servicing Brisbane, we are experiencing higher than normal demand for our services.