United States Update: Rising interest has seen buyers' borrowing power slashed by more than 20 per cent since the beginning of the year

Rising interest has seen buyers borrowing power slashed by more than 20% since the beginning of the year. A diamond in the rough bound a stone throw from the banks of the Brisbane River.

It was a bit of a dump. Had a slime field put in the backyard, and junk in the garden.

Ten years ago, Phil Thomas snapped up this 1880s cottage for $800,000. Now renovated and back on the market, it could be worth more than three times what it last sold for two.

Two and a half even. Sometimes we're sold for $3 million.

South Brisbane is among the Queensland suburbs that have seen huge value increases in the past quarter. Many others have plummeted for units. The biggest jumps in value have been Springwood Thornside and Goodna, the largest drops in Caloundra, west, and Durak house owners in Russell Island, South Brisbane and West End could be sitting on a gold mine. But in either folded and way coal, they've lost a huge portion of their value.

We've actually seen that sales volumes on a national level fell 3% month on month in September.

What we're seeing? A short-term dip. Property experts say it's important to note the huge value increases Queensland's property market recorded during the Pandemic this week.

We saw that the RBA stepped down at the pace of rate hikes.