Sandgate is among top Brisbane suburbs which recorded house price growth, despite the overall housing market stalling over the last 12 months, the latest Domain report revealed.
The Q1 2019 Domain house price report shows that Brisbane house price growth has flatlined over the last 12 months to March 2019, falling 0.3 percent year-on-year, for a median house price of $563,666. Several suburbs, however, still saw surprising price growth led by Auchenflower.
Sandgate also managed to rise above the market trend, as it posted 13.1 percent year-on-year and 36.5 percent five-year price growth with a median house price of $757,500. Realestate.com.au report also shows the median house price in Sandgate rising from $622,000 in 2017 to $720,000 in 2018 or a 15.8 percent increase.
On the other hand, based on realestate.com.au house sales data from 1 Apr 2018 – 30 Apr 2019, median house price in Sandgate is $695,000, higher than Qld median price of $495,000. Demand is also very high with 737 visits per property as compared to the state average of 375.
Quarter-on-quarter, Brisbane median house price fell 1.1 percent, slightly better than Sydney, Melborne, and Perth, which fell 3.1, 2.4, and 2.5 percent, respectively. Among capital cities, only Hobart saw an uptick in its median house price, rising 3.1 percent quarter-on-quarter and 7 percent year-on-year.
Newport and Highgate Hill, on the other hand, led the list of suburbs with the steepest median price declines, falling 13.5 and 10.6 percent, respectively. Cannon Hill, Morningside, Greenslopes, Indooroopilly, Upper Caboolture, Yeronga, Ningi, and Corinda round out the list.
The top suburbs for house price growth according to Q1 2019 Domain house price report:
Suburb / Q1 2019 Median Price / YoY Growth
- Auchenflower ($1,275,000 / 19.2%)
- Burpengary East ( $600,000 / 17.8% )
- Brookwater ( $825,000 / 16.1% )
- North Ipswich ( $367,500 / 14.5% )
- Sandgate ( $757,500 / 13.1% )
- Woody Point ($500,000 / 13.1% )
- Spring Mountain ($507,500 / 11.5%)
- Eagleby ($360,000 / 11.1%)
- Hemmant ($550,000 / 11.1%)
- Nudgee ($650,000 -/ 10.9%)
