Brisbane closing in on Melbourne

This below chart is very interesting .. post 2019 elections, Brisbane growth is now trailing very closely behind Melbourne after closing a massive gap as evident in early 2020. Sydney continues to widen the gap versus other capitals.

Brisbane is overall up 15% from 2019 elections.


chart credit to Pete Wargent Twitter

 

It looks to be more of a case Melbourne fell back. All the other locations are moving the same way

 

Maybe it is really gold coast ahead of Melbourne?

 

It's always interesting seeing these state based data. On a suburb level there are examples of the same or similar properties selling for more than 50 percent of 2018/9 prices in Melbourne. See my posts in the "Melbourne is hot" thread.
Are there similar examples in Brisbane? Melbourne has a massive number of new housing estate sales, where price growth is always very slow, I wonder if this skews the data.

 

Yes definitely, in fact most of inner, middle ring suburbs in Brisbane rose around 15-20% in the past 12 months alone, houses only

 

But that was after dropping a good 5-10% during coronavirus, right?

From my distant view (I should be closer to this as I have many investments in Brisbane but I'm keeping an arms length right now), it seems inner city has had a massive 20-30% increase, while middle ring is more about 10-15%...then minus the 5-10% drop from last year, which puts the latter at a meager 5-10% tops.

As I said I haven't been following it as closely so I could be wrong.

 

Yeah after around 5% drop (bottom around August 2020) then jumped 15-20%. Also, to be more specific I actually based on Brisbane Northern suburbs.

 

I think the rings have changed. Really what is happening is desirable places that are NOT CBD are rising astronomically, and are hitting 30% increase in 9 months. CBD is on the nose.

Proximity to lifestyle is the new thing.

Border of Logan/ GC have lifestyle properties hitting very high numbers, same as border scenic rim and GC (and GC itself). Lumping GC and Brisbane together is hiding some of the trends on the ground. We know Sunshine coast boomed as well.

None of these places are within cooee of the CBD.

 

It seems that way, possibly something to do with the 6-7 months spent in various forms of lockdown last year whilst the rest of the country lived somewhat normally in comparison.

 

I agree it would be a much more accurate graph if they took the GC out of the Brisbane stats. I would have a guess its the booming GC that has really caused the catch up on the graph. Sunshine Coast to if they are also considered "Brisbane" like GC.

 

It would be interesting to see price growth colour (heat) charts for each suburb in Australia for the last 12 months on a map.
Houses and units separated.

 

Coasts have outstripped brisbane growth. It’s a lifestyle change not a Qld change. Following a fb moving to Qld thread it’s a ratio of: (out of 20)
11 to gc
6 to Sunshine Coast
2 to brisbane
1 to regional qld