South Brisbane Real Estate Agent’s Spring Market Update
Apartment turnover slows – but there’s no lack of South Brisbane buyers!
It looks like we’ll finish 2020 with the lowest number of apartment sales for more than a decade, but it won’t be through any shortage of willing buyers. Turnover is currently down 33% on this time last year yet our buyer enquiry is strong and the average days on market for a South Brisbane apartment is just 38. That shows healthy demand.
The lower sales volumes are simply due to limited new listings coming to market, with many local owners choosing to sit tight. The stats show prices holding steady but we are now achieving some ‘better than expected’ results with multiple offers from ready buyers.
As always there’s a low turnover of houses as there’s not many in the suburb in total, and the big spike in the median price is due to a couple of luxury homes changing hands.