Brisbane’s growth is entirely attributable to a 0.8% rise in house values which offset a 2.4% fall in unit values over the quarter.
The Brisbane housing market continued to record a sustainable but subdued pace of capital gains with a 0.5% rise in dwelling values over the June quarter.
The half a percent rise is roughly in line with inflation and wages growth.
The rise over the quarter takes Brisbane’s annual growth rate to 2% which is entirely attributable to a rise in house values compensating for 3.2 percent fall in unit values over the year.
The subtle pace of capital gains is held Brisbane’s gross rental yield substantially higher than the combined capital of average, with a typical yield on a house now averaging 4.1 percent while unit yields are substantially higher averaging 5.2 percent.