Brighton Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q4 2024, Brighton* recorded a median house price of $660,500, and a median unit price of $482,500. This is an annual (Q4 2023 – Q4 2024) price growth of 5.7% for houses and 0.5% for units. Comparing Q4 2023 – Q4 2024, sales increased by 37.8% for houses (to 51 sales in Q4 2024) and decreased by -36.4% for units (to 7 sales in Q4 2024). This suggests an undersupplied unit market and a highly demanded house market, which created a buffer against higher interest rates – hence price growth. This indicates an ideal time for owners to capitalise on their investments. For houses there is limited stock planned, thus now is an ideal time to buy.
CHANGE FROM LAST
YEAR
HALF YEAR
Brighton is set to see approximately $149.0M of new projects commencing construction in 2025. Commercial
Industrial
$6.3M Mixed-Use
$3.9M
Residential
Projects
$27.2M
$23.5M
HOUSE SALE S Infrastructure
HOUSE ME DIAN PRICE
$88.1M
HOUSE RE NTAL PRICE These projects will stimulate economic growth and create new job opportunities in Brighton. This will have a positive spillover impact on the real estate market, in the form of higher demand for housing.
UNIT SALE S UNIT ME DIAN PRICE UNIT RE NTAL PRICE
There are multiple residential projects planned for 2025 that will further boost supply, including:
$ MARKET CONDITIONS MEDIAN PRICE Q4 2024
$660K
$482K
MEDIAN PRICE Q4 2024
$460
SALES
AVERAGE DAYS ON MARKET Q4 2024
56
106
HOUSE
U N I T
RENTALS
$450
•
24B & 38 Jetty Road (51 Units)
•
5-13, 15 & 17 Maxwell Drive (27 Units)
•
16 Hannah Court Units (5 Units)
•
6 Munday Street Units (5 Units)
•
1 Radius & Stanfield Drives Dwellings (26 Dwellings)
Although new stock is planned, most are units. This will help with answering some of the demand but not enough. A low number of new stand-alone houses will continue the current undersupply, thus further increasing house prices.
AVERAGE DAYS ON MARKET Q4 2024
20
24
HOUSE
U N I T
101 Units/ Apartments
26 Dwellings
8 Lots