South Brisbane sales market update: low sales numbers but buyers are busy looking!
The 2018 year started off a bit slow for the South Brisbane real estate market. Perhaps the negative media attention surrounding the apartment oversupply of stock was to blame? Buyers have been cautious and investors have been watching closely and waiting for the right time to make their next move. Have we hit the bottom of this downward trend? It’s hard to tell and we may know more when next quarter’s stats are in. What we have noticed in the first half of this year is a considerable increase in buyer enquiry which suggests the market is starting to shift. Demand for quality apartments and houses is high and a good chunk of the suburb’s new apartments have already been absorbed into the market. We’re watching the last of cranes come down and savvy buyers are taking advantage of some of the lowest property prices we’ve seen in some time. When homes are priced to meet the market, we’re seeing them go rather quickly.
The demand for houses is stronger than ever with a record number of homes sold last year. We rarely see our houses change hands and with good reason. No-one wants to move! South Brisbane offers one of Brisbane’s best high schools and the suburb’s abundance of amenities contribute to the ultimate in inner city living and lifestyle so many desire. Those who are ready to give it up or downsize into one of the many fantastic apartments on offer are reaping the benefits of selling in this market.
Like an update on the current market for your South Brisbane property? Please call our South Brisbane real estate agents on 07 3214 6800 or 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. South Banks’ leasehold tenure means it is not recorded in the official data.