'Brisbane houses going cheap'
ANALYSTS believe Brisbane house prices will continue to fall for at least six months after new figures show the city has become the cheapest capital on the Australian mainland to buy a house.
The Queensland capital's median price fell 2.7 per cent in the September quarter to $429,399, surpassing Adelaide as the home of the cheapest house prices in our mainland capitals.
According to the figures released by Australian Property Monitors, Brisbane's price fell 6.7 per cent in the last year, down from $460,239 in the 2010 September quarter.
Brisbane's price fall is consistent with a continual national downward trend in median prices, with national house prices falling for the fifth consecutive quarter to $536,011.
APM senior economist Andrew Wilson said he expected the city's property prices to continue falling for another six months.