Real Estate in Brisbane Enjoys Annual Boost

Real estate in Brisbane has received a boost, following new figures showing the median price for units in the city climbed 0.3 per cent in 2012.

According to the Real Estate Institute of Queensland (REIQ), the median value slipped four per cent to $398,000 in the three months to December last year, but this was not enough to offset previous gains.

Anton Kardash, REIQ chief executive officer, said both the inner and middle suburbs contributed to positive outcomes in the city's real estate sector.

He remarked: "Inner Brisbane suburbs continue to do well with median prices in New Farm and South Brisbane all posting solid price growth.

"Brisbane's middle-ring suburbs have also recorded some good results with Mount Gravatt East edging up 6.6 per cent over the quarter and Morningside recording growth of 9.9 per cent."

The REIQ noted that there was a significant rise in the number of transactions worth between $250,000 and $350,000, which reduced the overall median value of homes for sale.

Units and townhouses across the state continued an upward trend in sales, with real estate on the Gold Coast and Sunshine Coast doing particularly well.

This contributed to unit and townhouse transactions increasing 8.9 per cent in the 2012 December quarter, when compared with the same period the previous year.