Brisbane property prices soften again, units record steepest drop in 18 years

PHOTO: Brisbane’s premium lifestyle suburbs are still sought after, even in a more subdued market, says Angie Zigomanis. Photo: Tammy Law

Brisbane’s property prices have fallen again, making it one of only two capital cities in Australia to record house price declines over the quarter as well as the year, new data shows.

Property prices dipped across almost all of Greater Brisbane, according to the latest Domain House Price Report, which showed the median house price had fallen by 1.0 per cent over the September quarter to $562,847, and fallen by 1.8 per cent over the year.

Brisbane LGA, where the median house price is $666,500, had also fallen over the past year by 1.3 per cent.

It’s Groundhog Day for Brisbane property prices as the market continues its lacklustre performance, made even more disappointing against the backdrop of Sydney and Melbourne recording astonishing quarterly gains.