When we look forward to the coming year projections, Brisbane has a few key influencers that should see the property market remain in a growth pattern.
What we know is that Brisbane delivered a 27.4 per cent surge in housing values in 2021, with regional Queensland seeing a rise of 25.2 per cent.
If we combine the continued low inventory levels and demographic trends including migration from our southern counterparts, this should continue to support housing demand. Should we see more property come to market as is predicted this may see a shift in that growth.
Corelogic stats shows that “advertised inventory finished the year 24.7% below the five-year average. A shortage of listings has been a feature of the housing market through the COVID period to-date, creating a sense of urgency amongst buyers. The good news for prospective homeowners is that total listings have started to rise through the final quarter of the year as ‘fresh’ listings have trended above average in some regions,” said CoreLogic Research Director Tim Lawless from Corelogic.
What does this mean for you as a homeowner thinking about selling?
What we do know is that predicted higher listing rates means a steadying in the expected price of property. If you are thinking of selling and have been waiting for that magical ‘peak’’, you may want to consider riding the growth wave now and marketing your property before everyone else has same the thoughts.
Units have certainly made their mark in the final quarter of 2021 and we hope to see continued improvement in this category as many buyers are now priced out of the house market and looking to invest in the other options whilst they can. This includes both investors and owner occupiers.
Of course, now is the ideal time to be asking for an appraisal so that you can strategically mark out your investment opportunities into the new year and ensure the best possible results.
GENERAL MANAGER OF SALES