Brisbane’s median house price hits a $673,000

Brisbane is now officially the best performing capital city in Australia with an increase in values taking the median price to $673,000 according to the latest figures from the REIQ. Unlike its southern counterparts which have shown crazy amounts of growth, REIQ chief executive Antonia Mercorella said the market in the Brisbane local government area (LGA) had grown almost 30 per cent over the past five years. This “steady, sustainable growth’’ is giving buyers confidence that there is no bubble in the Brisbane market. Brisbane is likely to continue the slow burning growth over the next few years while it slowly catches up to Sydney and Melbourne values.