The mid-year property report card is in for Redlands and it spells good news for homeowners, particularly those living in Alexandra Hills where median house prices have jumped 8.7 per cent in the past six months.
Data released by realestate.com.au shows all mainland suburbs except Sheldon have registered steady growth since the start of 2023, adding to the significant gains recorded in Redlands over the past three years.
The mid-year report card – compiled using data from PropTrack – gives an insight into every suburb’s estimated median value, increases to house values and the number of days a property spent on the market.
There has been steady growth in property values on a national scale, with the PropTrack Home Index Report for June revealing prices have grown 2.3 per cent since the start of 2023.
It represents a significant turnaround from the second half of last year, where prices fell 2.4 per cent as the Reserve Bank hiked interest rates in an effort to tame inflation.
Despite an impressive mid-year result that will please homeowners, Redland suburbs did not feature among the state’s best performing areas, with Brisbane and Gold Coast outperforming their south-east Queensland neighbours to nab six of the top 10 spots.
Biggenden – a rural town about 350 kilometres north of Redlands in the North Burnett Region – took out the top spot, and fifth in Australia, after house prices jumped 13 per cent in six months.
Alexandra Hills was the best performing Redland suburb across the first six months of this year, according to the data, with the median house price increasing 8.7 per cent.
The suburb has registered a 54.7 per cent increase over the past three years, placing it behind only Sheldon and Ormiston as the city’s best performing area since June 2020.
Capalaba ranked second for the six-month period with an increase of 5.8 per cent, followed by Cleveland with 4.9 per cent and Birkdale with 3.9 per cent.
Data was not available for the Southern Moreton Bay Islands or North Stradbroke Island.