Brisbane has beaten London, Beijing and Brussels on a global list, ranking cities with the highest home price growth.
The latest Knight Frank Global Residential Cities Index ranks the Queensland capital as number 100 based on residential property price growth of 2.1 per cent in the past 12 months. But while Brisbane has performed better than some of the other major world cities, it only ranked sixth in Australia. Hobart recorded the highest price growth of 13.1 per cent, jumping from 34th place to 11th on the list.
Melbourne came next in 21st place, with 10.2 per cent price growth in the year to December 2017 — up from 24th on the index. Canberra’s residential market is now outperforming Sydney’s, with the nation’s capital sitting at 59th on the list with 5.7 per cent growth. Sydney is in 83rd place on the index with 3.8 per cent price growth, and Adelaide is in the 87th spot with 3.6 per cent growth.
It is our forecast that Brisbane will outperform all of the Australian capital cities in this and coming years, as will NSW regional cities.
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