Kenmore is Among the Top Suburbs for House Price Growth in 2018

Photo Credit: Google Earth Pro

Kenmore is among the best performing Brisbane suburbs for house price growth in 2018, the latest Domain report revealed.

With the release of the Domain House Price Report 2018, showing house prices in Brisbane falling 0.20 percent quarter-on-quarter, several suburbs appeared to have emerged resilient and managed to post growths over the 12 months ending December quarter 2018.

Kenmore was the fourth best performer, following Hemmant which rose 12.50 percent, after it gained 11.8 percent for a median price of $738,000. On the other hand, suburb data from realestate.com.au shows the median house price for Kenmore at $700,000, which is higher as compared to the QLD median price of $490,000. A total of 299 houses changed hands from 1 Feb 2018 to 1 Feb 2019.

Photo Credit: J Brew [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons

Sandgate tops the list of 10 best performing suburbs for houses in 2018, in terms of year-on-year price increases, with 18.8 percent growth and a median price of $750,000. Just as impressive, North Ipswich managed to register a year-on-year price change of 17.30 percent or a median price of $366,500, for a second place finish.

Graceville, Paddington, and Bardon were the other suburbs that posted year-on-year growths of 10 percent or better. Burpengary East, Carseldine, and Brookfield round out the top 10.

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For the December quarter 2018, Brisbane property market slightly slowed down to post an almost flat year-on-year growth, after it registered gains in the previous quarters. Industry experts point to the tighter credit access that’s crippling housing market in other capital cities.

Despite this, optimism is still high for Brisbane as Queensland remains to be a favourite among interstate migrants and overseas buyers, coupled with strong fundamentals that are seen to help Brisbane housing market remain stable.