House prices stay steady
THE REIQ June quarter median house price report found house prices remained steady in the face of lower sales activity across the state.
Many buyers remained on the sidelines over the period as they waited for the return of the Principal Place of Residence concession on stamp duty to be reinstated on July 1.
The median house price in Brisbane decreased 1 per cent to $500,000 over the June quarter. The numbers of preliminary house sales were down about 10 per cent compared to the March quarter.
A number of Brisbane’s suburbs performed well over the June quarter.
Aspley recorded median house price growth of 8.5 per cent to $510,000 over the quarter and was also up 8.1 per cent over the year. This was partly due to an increase in the sale prices of average, or middle-ofthe-road, properties.
Aspley is approximately 13 kilometres north of the Brisbane CBD. According to suburb profiles on reiq.com, the majority of housing is in the form of detached dwellings with limited townhouse and apartment developments.
There is a wide variety of housing which ranges from two-bedroom weatherboard houses to larger, modern brick residences.
The June quarter data also showed Runcorn’s median house price increased 7.4 per cent to $440,500 and was up 2 per cent over the year.
Runcorn is about 19km from the Brisbane CBD and is a popular suburb with young and established families.
Neighbouring Sunnybank Hills, Kuraby and Eight Mile Plains have a family focus seen in the walk and bike ways available in a number of local parks, and the local soccer and baseball fields.
Steady demand for housing in the area has seen extensive townhouse developments around Runcorn in recent years. Despite this, housing in the local area remains predominantly single-detached dwellings with chamferboard and brick and tile houses the most common architectural styles.
Another Brisbane suburb to record healthy median house price growth over the June quarter was Mansfield, with a median price increase of 7.6 per cent to $476,250.
According to reiq.com, Mansfield is characterised by lowset weatherboard houses with traditional Australian backyards 13km southeast of the CBD.
The majority of the dwellings were constructed of traditional weatherboard in the 1940s, 50s and 60s.