Defying the market downturn gripping some capital cities, Bardon managed to rank among the best performing Brisbane suburbs for house price growth in 2018, according to the latest Domain report.
The recently released Domain House Price Report 2018, showing house prices in Brisbane falling 0.20 percent quarter-on-quarter, showed several suburbs emerging resilient and posting growths over the past 12 months ending December quarter 2018.
With a 10.1 percent year-on-year house price growth, Bardon was the seventh best performing suburb in Brisbane, with a median price of $990,500. On the other hand, latest suburb data from realestate.com.au shows the median house price for Bardon at $1,015,000 which is more than double the QLD median price of $490,000. A total of 230 houses changed hands from 1 Feb 2018 to 1 Feb 2019.
Sandgate tops the list of 10 best performing suburbs for houses in 2018, in terms of year-on-year price increases, with 18.8 percent growth and a median price of $750,000. Just as impressive, North Ipswich managed to register a year-on-year price change of 17.30 percent or a median price of $366,500, for a second place finish, followed by Graceville, Paddington, and Bardon; all posting above 10 percent growth.
Burpengary East, Carseldine, and Brookfield round out the top 10 with 9.4 percent, 8.9 percent, and 8.8 percent growth, respectively.
For the December quarter 2018, Brisbane property market posted an almost flat year-on-year growth, after it registered gains in the previous quarters. Whilst industry experts point the reason of the slowdown to the tighter credit access that’s crippling housing market in other capital cities, optimism remains high for Brisbane housing market. Queensland remains to be a favourite among interstate migrants and overseas buyers; with QLD’s strong fundamentals, Brisbane housing market is seen to remain stable, if not growing.
