West End Sales Update: Summer 2017
West End sales update: Summer 2017
Families trying to break into the housing market in the 4101 postcode are becoming increasingly frustrated
It was a slightly busier quarter for house sales in West End with an additional 21 sales settled. Turnover is still down though, with owners continuing to hold tight. With the ever constant lure of Brisbane State High, families trying to break into the housing market in the 4101 postcode are becoming increasingly frustrated trying to find a family home, and this is spilling over to a more noticeable demand for townhouses or 3 bedroom apartments as an alternative home. However unfortunately these can be just as rare as houses for sale to find!
The number of transactions with apartments is also subdued, though still tracking along at reasonable volumes. The median price has also now pulled back under $550,000 for the first time in a couple of years. With just under 1000 newly constructed apartments completed in West End for all of 2016, the true volume of settled sales will become more apparent in the first quarters of 2017 once the delayed data filters through. With this volume of new property, it will look like increase of turnover, even though it is actually just new residences added to the area.
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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