Spring Hill houses in short supply!
Looking at figures available for the first quarter of 2015, let’s start with houses. We can see there had only been two house sales recorded between January and March, which is on track for a massive reduction from the 42 house sales recorded during 2014. Pleasing to see for house owners is that the median price remains very buoyant, with two factors clearly holding prices up, the scarcity of inner city houses, and renovated and restored stock coming to the market.
As for unit sales, we can see a slight decrease in the number of sales compared with 2014, along with the median price dropping from $410,000 to $385,000. However, Spring Hill and surrounding inner-northern suburbs are about to see a massive increase in new apartments, as part of Brisbane City Council’s ongoing urban renewal process. Making the most of its close proximity to the City, local cafes and restaurants, as well as retaining the feel of heritage suburbia, it’s not surprising Spring Hill is receiving enthusiastic hype, as the residential high rises currently under construction start to ascend. These ongoing residential improvements are providing Spring Hill with a workable mix of heritage homes surrounded by the diversity of modern apartment highrise living!
If you’d like an update on the market for your property please call our Spring Hill specialist Jay Ellison on 0401 917594 or email@example.com
Note: our graphs track the sales stats 3 months in arrears only as it takes this long for fully accurate records to finalise