What a load of rubbish.
You’ve got to love these research firms who put out media releases reporting facts on property trends. No doubt covering a whole nation in one report is tough, but the overnight claim by Australian Property Monitors that prices are up 12% has no relevance to Brisbane. It gives sellers false hope and panics buyers unnecessarily.
There has been more activity in the higher end lately so it’s possible the median sale price has risen because more expensive properties sold as a percentage of all sales.
But on the ground we are not seeing 12% price rises. Of course we’d love it to happen, and part of us begs and pleads for it to be so.
But it’s not!