The latest on the Milton real estate market
It is safe to say Milton’s skyline is advancing by the day, with new buildings such as Westmark, The Milton and Savoir Faire in various stages of development. Over 920 apartments in six new developments have been added to just the small pocket between Coronation Drive, Park Road and Milton Road, as the area picks up speed as one of Brisbane’s fastest growing suburbs. So far in 2015 we have seen 14 recorded apartment sales, and only 44 apartment sales in 2014. However, there will definitely be a re-adjustment once all the properties sold off the plan settle, and no doubt the number of apartment sales will jump quite substantially.
Being a small suburb, only 5 houses have settled so far for the first quarter of 2015. House sales slowed a touch at the end of last year, with only a total of 16 houses sold in 2014. Being a tightly held area, it is interesting to note that the median house price has been decreasing over the last couple of years. The currently median price is sitting at $635,000 for 2015, and was $679,750 for 2014 and $710,000 for 2013. One of the few suburbs so close to the CBD to see a downturn!
If you’d like an update on the market for your property please call our West End specialist Rebecca Herbst on 0431 608422 or e-mail firstname.lastname@example.org
Note: our graphs track the sales stats 3 months in arrears only as it takes this long for fully accurate records to finalise.