The latest on the South Brisbane real estate market
There’s a great ‘Mexican stand-off’ happening in South Brisbane’s real estate market. The numbers of sales are very low, even lower than during 2011 (which is hard to do). We had no house sales at all during the first 3 months of 2012 and apartment turnover is also down significantly. Buyer enquiry is strong but there’s very little for sale – for example at time of writing there are no houses listed and just 48 completed apartments.
Buyers seem to be waiting for prices to drop but there’s few forced sales and, if anything, we’ve seen some quality apartments sell at better prices than might have been expected due to the relative shortage. Meantime new apartment projects in the suburb are recording busy off-plan sales as investors, many of them interstate, recognise the potential of this thriving suburb. The gap between established apartment prices and these new projects seems to be widening as quality property in good locations is offered to the market.
If you’d like an update on the market for your property please call our sales team on 07 3214 6800 or email firstname.lastname@example.org
(note: It can take 3 months for sales data to be fully recorded by the government so we produce our graphs 3 months in arrears. This means the stats aren’t as fresh but are fully accurate.)