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Has Brisbane’s property market improved since the election?

Has Brisbane’s property market improved since the election?

In the lead up to the election there was a lot of uncertainty in the property market.

Sydney and Melbourne were experiencing market corrections, banks were enforcing strict lending criteria and negative gearing concessions were being threatened by the Labour government. With so much uncertainty, buyers were adopting a ‘wait and watch’ approach to the market.

Since then, there have been early indications that market sentiment has improved in Brisbane’s inner-west. Throughout July and August, we have experienced increased buyer activity with strong numbers through open homes – some properties recording 30+ groups.

Sold with multiple offers | 4 Brixton Street, Toowong

Buyers appear more willing to make offers and engage with the market, where in the lead up to the election they were feeling quite hesitant. We have recently sold a number of properties in Brisbane’s inner-west, where multiple offers were presented to the Sellers. Buyers seem more confident in their decision to purchase and less likely to mull over every detail before making a commitment.

Property prices have remained stable and we expect this will be the case for little while to come. It has been encouraging to see activity in the area improving, but this may not immediately translate to a spike in values just yet.

Sold with multiple offers | 24 Soudan Street, Toowong $760,000

Although Brisbane is not as susceptible to seasonal influences as other cities, winter is typically a quieter time of year. We’re feeling confident that a busy July and August will continue into the Spring selling months, and the second half of 2019 will bring with it favourable conditions for home owners.

Researching the market?

Find out exactly what’s happening in your suburb with our 2019 Local Market Report.

  • Explore the change in property values over the past 5 years for Toowong, Taringa, Indooroopilly and St Lucia.
  • We shine the spotlight on all four suburbs.
  • Understand what the Brisbane property market will do in 2019.
  • Investigate the trends currently affecting our inner-western suburbs.
  • Compare the performance of Sydney, Melbourne & Brisbane.

 

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Byrony O'Neill

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