South Brisbane Sales Update: Summer 2017
South Brisbane sales update: Summer 2017
We are witnessing growing demand for this area
Bargain-hunting buyers are having some disappointing Saturdays at the moment, with South Brisbane’s apartment owners typically holding fairly firm to their asking prices. We often see this in the cycles of property prices – a market with buyers convinced prices should be dropping further, but with sellers who want, but don’t need, to sell. It’s common to have property withdrawn at the moment and our total stock levels in South Brisbane are low. At time of writing for example there’s less than 40 one bed apartments available for sale.
Sales volumes are well down as a result, with the graphs showing 2016 likely to finish with a 25% dip in apartment transactions. Will this ‘mexican standoff’ put a floor under recent price drops? No doubt 2017 will tell the story but we are witnessing growing demand for this area. Buyers like what’s happening to South Brisbane and the vast improvements in the lifestyle on offer.
Note: our graphs track the sales stats 3 months in arrears only as it takes this long for fully accurate records to finalise.
For an updated report on your suburb or a property appraisal, please contact our Sales Team on 07 3214 6800.
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