It takes more than 3 months to get the final data so it’s only now we can look back at 2009 and make an accurate assessment of what the Woolloongabba real estate market really did. And if it seemed just as slow as 2008 the graph below shows you’re right.
During 2008 and 2009 sales numbers for both houses and apartments have shown a 50% decrease in volume from the previous two years. This possibly shows owners holding onto properties during what everyone thought was going to be a tough time, and waiting for things to improve before putting their property on the market. The median house price for 2009 was $555,000 while for 2008 it was $620,000, though the figure for 2009 was also affected by first home buyers using the government’s $14,000 grant. Early figures for 2010 are optimistic albeit the number of properties for sale is low. When sale volumes are down sellers can see strong price results as there’s less competition.