THE CURRENT MARKET

This quarter we have experienced good buyer demand for residential houses in Inner Brisbane, particularly those on larger lot sizes. Another stand out area has been the significant increase of buyers from interstate, particularly Sydney, Melbourne and Adelaide. These buyers are attracted to the leafy nature of the inner city living, with good schools and close proximity to Brisbane CBD.

Latest Median House Prices from the last 12 months

  • Sydney: $915,000 up 4.0%
  • Melbourne: $634,000 up 5.8%
  • Darwin: $515,000 down 10.4%
  • Canberra: $625,000 up 5.0%
  • Perth: $520,000 down 3.7%
  • Brisbane: $515,000 up 4.0%
  • Adelaide: $440,000 up 3.5%
  • Hobart: $375,000 up 4.2%

I anticipate this next quarter we will continue to see solid growth in the established housing market; while the unit market will remain segmented based on supply. Interest rate speculation and tighter bank lending could start to impact on investors though.

RENTAL MARKET

Rental prices around the inner Brisbane area have plateaued and in some instances, we have seen weakening in rental prices for some properties. As interest rates remain low, there is a greater increase in tenants becoming home owners. A combination of more tenants leaving the rental market and more stock on the market due to the amount of development we are seeing has also resulted in higher vacancy periods. This is also placing pressure on the time on market for houses as brand new apartments are being offered to the market at a record low price.

 

Jack Hammered

Principal

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WHAT SELLERS ARE SAYING!

The Crescent, Ascot

The Crescent, Ascot

Brisbane Projects are the hardest working agents we have ever used. Their excellent communication & negotiation skills coupled with an intimate knowledge of the area achieved for us a very pleasurable result, which enabled to move into our dream apartment marketed by Brisbane Projects. We would have absolutely no hesitation in using them again. P.D. & M.A.

The Street, New Farm

The Street, New Farm

Brisbane Project were highly professional, and more than pleasant to deal with, and the whole team went out of their way to facilitate the sale of our property, so we could move into our new Apartment no matter what time of the day they were required. I would have no hesitation in recommending Brisbane Projects if you are looking for a dependable, dedicated and hard-working agency that puts their clients first. P.A.M. & D.A.

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