My name is Chris Andersen and, in a previous life, I sold residential property at Ray White Bulimba with a focus on the southside of Brisbane in Coorparoo, Camp Hill, Morningside & Murarrie.

My background is finance, management consulting, real estate and sales so I enjoy looking at the property market from an investment perspective with a focus on data and analysis.

As can be seen from the below figures, all of these areas have had particularly strong growth over the last five years since April 2018.

“Average annual growth rate (AAGR) is the average annualized return of an investment, portfolio, asset, or cash flow over time. AAGR is calculated by taking the simple arithmetic mean of a series of returns.” Investopedia

The Brisbane market acheived 9% growth per annum over the period while Coorparoo, Morningside & Murarrie all achieved 12% or more per annum. From a total growth perspective, the Greater Brisbane median price grew by 43% from $540,000 - $770,000. Median prices in Coorparoo, Morningside and Murarrie all grew by 55% or more over the period with all suburbs now having median prices of 1 million dollars or more.

Looking at units, growth was slower, although Camp Hill and Murarrie were standout performers with total growth of 46% and 44% respectively. This compares to Greater Brisbane of 13% or 3% per annum. The median unit price for Brisbane now sits at just under $480,000 which is up from $420,000 at the start of the period.

Price growth was particularly strong over the period, as was sales activity, although we’ve seen a sharp drop in the number of sales over the last twelve months when compared to the peak selling period of the previous year.

The number of sales over the last 12 months sits at two thirds of the previous period for Greater Brisbane with all suburbs showing a steeper drop-off of up to 57% for both Coorparoo & Morningside. This trend was not quite as significant for units with 70% of 2022 figures for Greater Brisbane, although Morningside has seen a sharp drop in sales activity with 176 sales over the past 12 months versus 358 over the previous year (49%).

Finally, the last couple of years saw a significant drop in days on market. In the period ending March 2022, properties were selling in half the time or less in Coorparoo, Camp Hill & Murarrie when compared to the period ending March 2019. Days on market have since increased over the past year, although they’re still 97% or lower across all suburbs when compared to the period ending March 2019.

Interestingly, units are still selling much faster than they were in the period ending 2019 with the past year actually showing the lowest days on market over the whole period for all suburbs. Units in Coorparoo, Camp Hill & Morningside have been selling in half the time over the last two years when compared to the period ending March 2019.

For a more in-depth analysis of the unit market, check out the units page which covers off on data across a wider range of suburbs and also assesses how affordability has been affected over the last twelve months, which could be part of the reason why units have remained highly sought after.

For a more specific example of the growth we’re seeing in this market, here is a video of one of my recent sales at 2/309 Riding Rd, Balmoral which sold for well above reserve at $985,000 with 5 registered bidders, 5 offers received prior, 92 inspections and over 8,000 views on realestate.com.au.

The owner purchased the property for $532,500 in October 2020, less than 1.5 years prior, and performed the renovations during that time. With over $450,000 price difference in less than 18 months, we achieved just under 85% price growth during his short period of ownership.

Reach out to me if you’d like me to achieve similar results for you.

Even if you’re selling in this market, you likely need to buy and this is where you’ll likely focus a lot of your attention and experience at least some level of stress. Hopefully I can help with that in some way.

The video below shows the high and low growth suburbs, the affordable areas to buy a house, gives an overview of the unit and townhouse market and focuses on the skills you need to learn to speak with agents and close deals faster and more easily.

If you’re looking to buy or sell in this market and you’d like some further assistance, please feel free to reach out at chris.andersen@raywhite.com or 0424 682 636.