Auchenflower, Toowong

Toowong and Auchenflower Real Estate Agent’s Spring Market Update

Busy market pushes houses over $1m

 

The local house market is booming along! In 2019 there were 80 house sales for the whole year and with a quarter to go we are already at 98 in 2020. The strong demand has pushed prices and, along with more activity in the higher end of the market, now sees the local median house comfortably over $1 million.

Apartments are also selling quickly: less than a month average time on market in this area. The older style, larger apartments are particularly in strong demand. Volumes of sales are down as there is not much coming to market for buyers to choose from, so what is coming online is going quickly. Prices are steady. In fact for the last three years the median for apartments has been sitting between $435,000 to $437,000! Interestingly we are starting to see more investors coming back into the market.