South Brisbane Sales Market Update – April
This year has started with stronger buyer enquiry and a sense of optimism about South Brisbane’s real estate market. The final stats for 2011 show lower numbers of sales than previous years, but not the drastic drop we experienced in the first half of the year. This is a suburb with strong underlying demand and we’d argue the area’s been slightly insulated against Brisbane’s downturn.
Prices are down on 2010 and while the graphs show median prices rising there have been a number of new, dearer apartment releases that might be masking the full picture. This is a buyer’s market and prices have dipped, but a general lack of property for sale has prevented big drops. The story of South Brisbane’s ongoing transformation is a positive one, and buyers see opportunity.
Major, visible projects completing in early 2012, like the ABC Headquarters and Convention Centre expansion, have added to the sense that this is a neighbourhood to watch. If you’d like a sales market update for your property please call our South Brisbane specialist Rob Honeycombe 07 3214 6800