The city’s housing market is the fastest growing of any Australian capital city with housing prices tipped to continue increasing throughout the year.
“It’s gone up 3.1 per cent this year alone,” Domain managing editor Alice Stolz said.
Domain data reveals some units in some south-east Queensland suburbs are cheaper than they were in 2017.
In the suburb of Windsor, Brisbane, data shows the average unit price has dropped by 15 per cent.
In Beenleigh, properties are on average 12.7 per cent cheaper than they were five years ago.
Some Milton apartments are costing approximately 10 per cent less while some Indooroopilly apartments are down by 6.6 per cent.
But Place real estate agent Alex Rutherford said not all properties had felt the dip, encouraging those on the market to do their research to find the best price.
“It’s largely properties that were sold off the plan five to 10 years ago and are now reselling, yes lower than they were then but it’s only a small segment of the market,” Rutherford said.
On the Gold Coast, housing prices are increasing.
The only suburb where unit prices have dipped in the last five years is Coomera.
Property experts say now could be an ideal time for young buyers to enter the property market as prices are projected to spike again across the south-east.
“Especially with the end of the financial year coming there are investors that obviously want to have their properties sold before June 30,” Rutherford said.
Stolz said with the price of property buying and building on the rise, now could be the ideal time to purchase a new home.
“Knowing that we’re seeing such pressure in the construction industry, pipeline is really driving up in the development space, having a building in front of you with a key in your hand could be your way into the market.”