Reading some information on the Property Boom in Brisbane today, January 2010, I saw some information on the median house prices over the last 40 years.
These Brisbane median house prices figures were quoted:
- 1970 $ 9,910
- 1980 $ 35,450
- 1990 $118,000
- 2000 $173,000
- 2009 $450,000
I did a quick calculation and saw that to get from $9,910 in 1970 up to $450,000 in 2009, you needed an average year on year increase of 10.01%
This is based on these calculations
| Year | Start $ | 10.01% Growth | $ End of year |
| 1970 | $ 9,910.00 | $ 991.99 | $10,901.99 |
| 1971 | $10,901.99 | $1,091.29 | $11,993.28 |
| 1972 | $11,993.28 | $1,200.53 | $13,193.81 |
| 1973 | $13,193.81 | $1,320.70 | $14,514.51 |
| 1974 | $14,514.51 | $1,452.90 | $15,967.41 |
| 1975 | $15,967.41 | $1,598.34 | $17,565.75 |
| 1976 | $17,565.75 | $1,758.33 | $19,324.08 |
| 1977 | $19,324.08 | $1,934.34 | $21,258.42 |
| 1978 | $21,258.42 | $2,127.97 | $23,386.39 |
| 1979 | $23,386.39 | $2,340.98 | $25,727.36 |
| 1980 | $25,727.36 | $2,575.31 | $28,302.67 |
| 1981 | $28,302.67 | $2,833.10 | $31,135.77 |
| 1982 | $31,135.77 | $3,116.69 | $34,252.46 |
| 1983 | $34,252.46 | $3,428.67 | $37,681.13 |
| 1984 | $37,681.13 | $3,771.88 | $41,453.02 |
| 1985 | $41,453.02 | $4,149.45 | $45,602.46 |
| 1986 | $45,602.46 | $4,564.81 | $50,167.27 |
| 1987 | $50,167.27 | $5,021.74 | $55,189.01 |
| 1988 | $55,189.01 | $5,524.42 | $60,713.43 |
| 1989 | $60,713.43 | $6,077.41 | $66,790.85 |
| 1990 | $66,790.85 | $6,685.76 | $73,476.61 |
| 1991 | $73,476.61 | $7,355.01 | $80,831.62 |
| 1992 | $80,831.62 | $8,091.25 | $88,922.86 |
| 1993 | $88,922.86 | $8,901.18 | $97,824.04 |
| 1994 | $97,824.04 | $9,792.19 | $107,616.23 |
| 1995 | $107,616.23 | $10,772.38 | $118,388.61 |
| 1996 | $118,388.61 | $11,850.70 | $130,239.31 |
| 1997 | $130,239.31 | $13,036.96 | $143,276.27 |
| 1998 | $143,276.27 | $14,341.95 | $157,618.22 |
| 1999 | $157,618.22 | $15,777.58 | $173,395.81 |
| 2000 | $173,395.81 | $17,356.92 | $190,752.73 |
| 2001 | $190,752.73 | $19,094.35 | $209,847.08 |
| 2002 | $209,847.08 | $21,005.69 | $230,852.77 |
| 2003 | $230,852.77 | $23,108.36 | $253,961.13 |
| 2004 | $253,961.13 | $25,421.51 | $279,382.64 |
| 2005 | $279,382.64 | $27,966.20 | $307,348.84 |
| 2006 | $307,348.84 | $30,765.62 | $338,114.46 |
| 2007 | $338,114.46 | $33,845.26 | $371,959.72 |
| 2008 | $371,959.72 | $37,233.17 | $409,192.89 |
| 2009 | $409,192.89 | $40,960.21 | $450,153.10 |
But also remember, how did the average house in 1970 compare to the average house in 2009…
Would it still be 3 bedrooms with single garage ?
References: blogs.abc.net.au/queensland/files/JOHNSTON_DIXON_Report.pdf