Brighton Market Update 1st Half 2025
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% forhouses and 0.5% for units. Comparing Q4 2023 –Q4 2024,sales increased by 37.8% forhouses (to 51 sales in Q4 2024)and decreased by -36.4% for units (to 7sales 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 anideal time for owners to capitalise on their investments. For houses there is limited stock planned, thus now is anideal time to buy.
HOUSE SALES YEAR HALF YEAR CHANGE FROM LAST
HOUSE MEDIAN PRICE
HOUSE RENTAL PRICE
Brighton is set to see approximately $149.0Mofnewprojectscommencing constructionin2025
SALES
MEDIAN PRICE
RENTAL PRICE
MEDIAN PRICE Q4 2024
$660K $482K
MEDIAN PRICE Q4 2024
AVERAGE DAYS ON MARKET Q4 2024
56
AVERAGE DAYS ON MARKET Q4 2024
These projectswill stimulate economic growthandcreatenew jobopportunities in Brighton.This will have apositive spilloverimpacton the real estatemarket,in the form of higher demandfor housing.
There aremultiple residential projects planned for 2025 that will further boost supply, including:
• 24B & 38 JettyRoad (51 Units)
• 5-13,15 &17 Maxwell Drive (27 Units)
• 16Hannah Court Units (5 Units)
• 6 Munday Street Units (5 Units)
• 1 Radius & Stanfield DrivesDwellings (26 Dwellings)
Although new stock isplanned, 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 VENDOR DISCOUNT*
Average vendor discount reflects the average percentage difference between the first list price and final sold price. A lower percentage difference (closer to 0.0%) suggests that buyers are willing to purchase close to the first asking price of a property.
In the past 12months to Q4 2024average house vendor discount have tightened to a lesser discount of -0.9%. Average unit vendor discount have continued to be a premium, but at a higher percentage of 1.2%. The house market still favour buyers, where vendors are willing to sell below the initial listing price. The opposite is evident for units. Thus,now is an ideal time for house buyers to act; to capitalise oncurrent discounts.
The suburb of Brighton has historically been onpar with the wider Brighton Local Government Area (LGA). In 2024this trend has continued for both house and unit median prices, with both the suburb and LGA seeing slower price growth.
The dominant proportion of homes sold in Brighton* in 2024# was in the more affordable price point of $499,999 and below (37.0%), in is good news for first home buyers Thatsaid, 29.7%of the market was priced in the upper and premium bracket of $700,000and above, which benefits owners Most of the units were sold in the middle-priced price bracket between $450,000and $499,999(35.8%), with ample sales (20.8%) in the more affordable price brackets also. This suggests there is a home for every budget.
MARKET COMPARISON
The market comparison graph provides a comparative trend for the median price of houses and units over the past 5 years. The main LGA profiled was chosen based on their proximity to the main suburb analysed, which is Brighton.
PRICE BREAKDOWN 2024#
than $399,999
$400,000 to $449,999
$450,000 to $499,999
$500,000 to $549,999
$550,000 and above
RENTAL GROWTH 2024€
House rental yieldsin the postcode 7030*was 4.4% in December,above Hobart Metro (3.6%).This waspaired with a 4.5% increase in median rent price in the past 12 months to Q4 2024,at $460 per week. The number of houses rented increased by1.2% in the past 12 months, to 83 rentals in Q4 2024; which suggests ahighly demanded market. Similarly, median unit rent pricerose by5.1% to $450, with astable number of units rented (24 units in Q4 2024). Overall,there is an attractive rental market in the Brighton¥ area,even with a higher entry/saleprice in the past 12 months to Q4 2024.
2-bedroom houses have provided investors with +5.2% rental growth annually, achieving a median rent of $442 perweek.
The postcode 7030¥ recordeda vacancyrate of 0.7% in December2024,slightly aboveBrighton LGA’s0.4% and Hobart Metro’s 0.6% average.Vacancy rates in the postcode 7030¥ have fluctuated in the past12months, however, have seenan uptick in the past3months due to investors returning to marketas cashrates stabilised. This is good news for renters, in what is normally a tight rental market.For investors, a 0.7% vacancyrate isstill significantly below the Real Estate Institution of Australia’s healthy benchmark of 3.0%,suggesting quicker occupancy of rental homes in the area
RENTAL VACANCY RATES 2024
PROJECT DEVELOPMENT MAP 2025 ₳
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REFERENCES
* Brighton sales market data and key indicators encapsulates aggregate property market conditions within Brighton Local Government Area (LGA)
** Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value.
# 2024 encapsulates sales transactions for the 2024 full year (01/01/2024 – 31/12/2024).
€ Annual rental growth is a comparison between Q4 2023 (01/10/2023 – 31/12/2023)and Q4 2024 (01/10/2024 – 31/12/2024) house median rent figures.
¥ Brighton rental market data encapsulates aggregate property conditions within the postcode of 7030.
§ Rental yields shown are as reported as of December 2024.
₳ Project development map showcases a sample of upcoming projects only, due to accuracy of addresses provided by the data provider for geocoding purposes.
£ Projects refers to the top developments within the suburb of Brighton Local Government Area (LGA)
µ Estimated value is the value of construction costs provided by relevant data authority, it does not reflect the project’s sale/commercial value.
ψ Commencement date quoted for each project is an approximate only, as provided by the relevant data authority, PRD does not hold any liability to the exact date.
Source: APM Pricefinder, Cordell Connect database, SQM Research, Esri ArcGIS.
Disclaimer: PRD does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information contained herein, you must take note that the information, figures and projections have been provided by various sources and have not been verified by us. We have no belief one way or the other in relation to the accuracy of such information, figures and projections. PRD will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is contained in the material.
Prepared by PRD Research. © All medians and volumes are calculated by PRD Research. Use with written permission only. All other responsibilities disclaimed. © Copyright PRD 2025.
