JUST when you thought the housing market was going backwards, new figures reveal Brisbane house prices have hit a new record high.
The latest Real Estate Institute of Queensland Market Monitor, released today, shows the annual median house price within the city’s local government area rose 1.5 per cent in the 12 months to the end of March to reach a new high of $680,000.
The Brisbane LGA median house price has jumped 27.3 per cent since December 2013, when it was $535,000.
The top suburb for house price growth in the Brisbane local government area over the 12 month period was Auchenflower in the city’s inner west, which recorded a whopping 23 per cent increase in its median house price.
Northgate, Gordon Park, Hamilton and Clayfield in the inner north also experienced strong house price growth of between 11 per cent and 13.3 per cent.