Brisbane’s median house price is expected to increase by $74,800 or 17 per cent across the next three years.
According to the latest Residential Property Prospects report released by economic forecaster BIS Shrapnel, Brisbane’s median house price is set to rise 5.2 per cent per annum from $440,000 currently to $514,800 in 2016-17.
This would be the first increase in Brisbane’s median house price since 2009-10.
BIS Shrapnel senior manager Angie Zigomanis told The Courier Mail all the pieces were now falling into place for the beginning of an upturn.
“Similar to the Perth market, once it appears that the market has definitely bottomed, turnover will begin to increase as purchasers seek to enter the market ahead of any further price rises in increasing numbers," she said.