Perth Brisbane Adelaide Property
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It's The Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia. And welcome to another episode of The Real Estate Podcast, available on iHeartRadio and also Spotify and Apple Podcasts, or wherever you get your podcasts from. Well, the first Sunday in the first day for the month of May. And I'll keep my fingers crossed for you that it's a successful month for your property transaction, whatever that might look like. And yes, the 1st of May for 2022. And coming up, we have the second part of a property report. that has been released by Domain. Yesterday we focused and talked with Domain's Head of Research and Economics, Nicola Powell, and looked at the numbers for Sydney and Melbourne.
Today we're going to be focusing from the report on Brisbane, Adelaide and Perth. But first, let's take a look at the weather around Australia. It's the main centre forecast with propertybuyer.com.au. And looking at weather for Sydney, expecting some possible showers today with a high of 22 degrees. Melbourne, partly cloudy with 20. Brisbane, a shower or two and 24 degrees. And in Perth, it's the place to be, fine and sunny and a high of 25 degrees. It's your weekend real estate podcast. Well, you can't help but feel a little guilty when you wake up and jump into a hot shower in the morning, followed by breakfast and a cup of coffee. When we know the complete opposite is happening across the Ukraine with people in bunkers, children with no water, breadcrumbs literally to survive off, the sanitation we can only imagine.
No, we can't imagine it because we're not living through it. We've got no idea what those conditions are really like. And today in my morning news feed, it told me that some civilians have been evacuated from these steelworks in Mariupol after a ceasefire was introduced. One Ukrainian commander said that we've brought 20 civilians to the agreed meeting point. And as of now, the rescue operation is ongoing. He said that we hope that this process will be further extended and we will successfully evacuate all the civilians. We hope so too this morning. Across every state, city and town of Australia, The Real Estate Podcast. The darling city we've mentioned before on the podcast is Brisbane, which is the fastest growing capital city market in Australia over the past year, with median house prices and unit prices hitting new records and resulting in an annual increase by 32.1% and 9.3% respectively.
Brisbane, really, it has waited a long, long time for this boom. And when it came, it really arrived and made up for lost time, didn't it?
Look, absolutely. It really has been the property price boom Brisbane has been waiting for. It's actually the steepest upswing for Brisbane house prices in about 18 years and the steepest upswing in 14 years for units. We're seeing a in terms of houses outperforming units. So that's what we're seeing in many of our capital cities. But we are still seeing really strong selling conditions in Brisbane. And when you have a look at population growth, Queensland has got the highest annual rate of population growth. It's been really driven and bolstered by interstate migration. And we're seeing lots of interest from interstate buyers uh into queensland when you have a look overall inquiries from prospective buyers over the march quarter they were 37 higher compared to the same time last year and 24 so almost a quarter of those inquiries came from interstate so strong interest still in brisbane particularly from interstate buyers and i think
You know, affordability, you know, while we're still seeing strong rates of price growth, affordability is there in Brisbane when you compare it to some of our other major capital cities, Sydney and Melbourne. And I think, you know, we have seen many Sydneysiders opt to leave and choose to relocate into lifestyle regions and areas such as Brisbane that offer that better work-life balance, that lifestyle, great weather, but also more affordable housing.
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