Oxley and seven other Brisbane south suburbs have surprisingly upstaged blue chips to make the list of hottest suburbs for price growth in 2019.
Eight suburbs from Brisbane’s south have managed to post consistent rise in sales, according to the latest Price Predictor Index from Hotspotting’s Terry Ryder, growing from last report’s five: Oxley, Sunnybank, Corinda, Forest Lake, Mansfield, Mt Gravatt East, Parkinson, and Salisbury.
Over the past 12 months through 31 December 2018, there have been a total of 135 houses sold, spending an average of 52 days on market.This translates to a median sale price of $580,000 and a 3.57 percent annual increase, according to CoreLogic’s propertyvalue.com.au. Still, Oxley’s median house price has been steadily rising from $416,000 in 2012 to $573,750 in 2018, according to realestate.com.au.
Also, seven Brisbane north suburbs have shown steady rising demands according to the report: Newmarket, Alderley, Bald Hills, Brighton, Geebung, Gordon Park, and Stafford Heights.
In all, 33 Brisbane suburbs were found to have sales that are consistently rising, especially in the Moreton Bay region which now ranks second in the country in terms of growth.
Based on sales activity, the Price Predictor Index predicts which suburb will likely see future price growth as well as find out which are showing weakening sales. Markets that have shown consistency in sales growth are likely to remain steady and deliver good price growth.
The latest survey has revealed that more suburbs are showing rising sales activity which is a good indication that the Brisbane housing market is growing stronger in 2019.
