Brisbane home prices have continued to rise despite drops in Sydney and Melbourne, new data shows.
Property prices rose in Brisbane by 0.6 per cent over November despite big drops in Australia’s biggest cities with a 1.4 per cent drop in Sydney and a 3.5 per cent drop in Melbourne, according to CoreLogic RP data released on Tuesday.
It is a familiar pattern for Brisbane as prices continued to grow over the past three months, rising 1.8 per cent, second only to Canberra, which grew 2 per cent.
Bulimba Ray White agent Mark Theodossiou said Brisbane is still benefiting from the aftermath of low interest rates.
“We’re still enjoying the warmth of low interest rates, which will take time to cool down,” he said.
“And although we cannot determine what’s around the corner, Brisbane has plenty of buyers in the market.”