Volumes are down, and it has been a slow start to the year. Whether it is the general uncertainty in the market with the elections looming, changing bank criteria and the challenges getting finance, or buyers are just watching and waiting to see if we have hit the bottom of the market before they act. Either way turnover has been impacting sales in 4066 in recent months. This suburb though stands out amongst the other inner city suburbs that we watch, and is one of the few to see an increase in the median sales prices – for both houses and apartments. Buyers are savvy and research the market, looking for value and choosing quality real estate. As you cannot predict when the market will turn, most are recognising this may well be one of the best buying opportunities we’ve seen for some time. Well-priced listings on good apartments are attracting solid enquiry and houses stay strongly in demand.
Often non-locals see value in our market long before those of us living here. There has been more sales of established/2nd hand stock as southern investors appear to be returning to the Toowong/Auchenflower neighbourhood. The strengthening rental market is adding to our appeal, and we’re currently short of listings to offer these buyers.