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Greater Brisbane’s lacklustre performance, as revealed in the latest Domain Group State of the Market Report, shows median house prices have fallen by 0.6 per cent across the five LGAs, which include Brisbane, Ipswich, Redland, Moreton Bay and Logan, to $548,918. “This is the second quarterly decrease for the Brisbane house market which has resulted in the lowest yearly house price rise since the December of 2012,” Domain group chief data scientist Nicola Powell said. Dr Nicola Powell said Brisbane has seen its lowest yearly price rise in five years. Photo: Supplied The year-on-year growth was just 0.4 per cent. “[From vendors,] there’s been no rush to sell; in a way, that has stagnated the market,” Dr Powell said. “The current stock has declined year on year marginally.” Agents say picky buyers combined with the lack of stock was suffocating the Brisbane market. Harcourts Property Centre agent Pat Ivey said he was seeing a similar phenomenon in his patch on the city’s south side. “I’m experiencing this at the coal face of it all. Brisbane is so market specific,” he said.
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