Spring Hill sales market update: Less properties for sale
It is normal for Spring Hill to have a low turnover in properties, but this doesn’t mean that it isn’t in demand! According to realestate.com au the average site visits per property per month in the Spring Hill sales market is 465, with the Queensland average being only 377.
The median house value has barely changed for the last 3 years, and while turnover was up a little last year, it has come back a little this year, mainly due to less properties becoming available for sale, as owners decide to hold on due to all the benefits of owning a home so close to the CBD.
You will note in the graph that it looks like the median price for apartments has plummeted – this is not due to the prices dropping across the board, but because of a large multi buy of studio apartments by a company that equated to 56 of the sales. If we had removed these sales from the statistics, Spring Hill apartments would have been sitting at 59 sales and a $400,000 median. There still has been a drop in the annualised turnover for apartments, as there have been no recent development settlements to boost up the numbers like the previous two years.
Like an update on the current market for your Spring Hill property? Please contact our Spring Hill real estate agents on 07 3214 6800 or firstname.lastname@example.org