CoreLogic’s latest Property Market Indicator data shows that Brisbane’s home value has gone up 0.3 per cent in the last month and 1.2 per cent in the last 12 months, and is the only capital city with positive changes other than Adelaide.

Sydney’s monthly change is -0.5 per cent and -5.6 per cent for the last 12 months, and Melbourne’s is -0.9 per cent and -1.1 per cent for the last year.

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Source: CoreLogic

Andrew Degn, principal of Place Paddington told WILLIAMS MEDIA these statistics show Sydney and Melbourne had growth over the last seven years and Brisbane was steady in comparison, but is now “playing catch up”.

“They have capitalised down there and are moving up to Queensland which is quite good for us.

“The southerners are going a little bit extra at our auctions and outbidding the locals.

Related reading: Highest and lowest performing suburbs North vs South of the Brisbane River

“This is because they expect our market to continue to improve, and their market is going backwards."

Mr Degn said people were leaving Brisbane after the GFC and going to Sydney and Melbourne where most companies had head offices, but are now making the move back.

“Many are relocating to Brisbane within the same company they work for.”

He said one in every ten buyers are from interstate.

“The market will definitely continue to go up because it is simply undervalued compared to the rest of nation.

“If you want to live in a capital city, come to Brisbane and you can buy a house up to half of the price as Sydney and the same distance from the CBD.

“Brisbane has some of the best schools in the nation, you can bring up young children in a great environment, and have a more relaxed pace of life.”

Mr Degn said Paddington and Auchenflower in particular are undervalued and have great growth.  

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15 Wienholt Street, Auchenflower for sale by Andrew Degn of Place Paddington, as seen on Luxury List

“In New Farm you will pay top dollar for a house half the size.

“Paddington and Auchenflower give you a lot more value for money - the land is twice the size, and there are great views.

Related reading: Brisbane one bedder sells for $2.6m

“Paddington is also character protected and not impacted by a lot of units and townhouses so the population is less, giving you a good lifestyle, unlike New Farm with multiple dwellings.”

According to CoreLogic's data from June 2018 on the best performing suburbs based on 12 month change in median value, Auchenflower was number one at $1,103,373 median value, and 17.2 per cent change in 12 month median value.

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