Brisbane’s red-hot housing market is bucking a national downward price trend. 

The latest PropTrack Home Value Index shows Brisbane has recorded the strongest result of all capital cities with an house prices increasing by 26 per cent in the last year.

Economist Paul Ryan told Rob McKnight, filling in for Sofie Formica, as easing of COVID-19 restrictions is helping local sales.

“The trend of southerners moving north is not a new one but it was definitely supercharged by the pandemic,” he said.

“It’s certainly the case that flooding has constrained housing supply a little bit and that’s put even more pressure on the housing market.”

He said Brisbane could continue to perform above the rest of the country, even if interest rates keep rising.

“If interest rates do increase as much as some people are forecasting, that could push more parts of the country into negatives.

“But Brisbane is coming off such a high level of growth that they seem like they’re going to outperform the rest of the country and may not fall.”

Press PLAY below to hear what this means for sellers and buyers 

Image: Getty