Inner-Western Brisbane Property Market Continues to Boom
The demand for property in inner-western Brisbane is making it the perfect time to sell.
The widely reported property boom has seen a median annual growth rate of 18.47% in inner-western Brisbane with the core four suburbs experiencing exceptional growth: Taringa (20.05% growth), Toowong (15.30% growth), Indooroopilly (21.21% growth) and St Lucia (17.31% growth).
In almost 20 years of working in real estate, we have never seen buyer activity this high. Open home numbers are upwards of 50+ attendees, properties are selling in less than a week and our properties for sale are being viewed on average 7,000 times!
This exceptional level of buyer activity is being spurred on by the lack of homes for sale in the area.
Four years ago, we were beginning to see a shortage of housing supply in Brisbane’s inner-western suburbs. However, this has recently become even more apparent.
More than ever, buyers are actively reaching out to our agency to see if a suitable home might be coming on the market for sale.
To add to this heightened activity, we are starting to see more buyer’s agents representing inter-state buyers who are most likely looking to escape hard lockdowns and make the move to the sunshine state.
Despite this level of demand, many who are considering selling are still hesitant; worried that the peak in the market is yet to come.
However, Byrony recommends that those who are considering selling in the next year or two should take advantage of the record number of buyers currently in the market.
“If sellers get into the market when it is on the way up, the momentum will carry them through,” says Byrony.
“In reality, no one knows how long this current market activity will last, what we do know though, is it’s the best we have seen in 30 years. Now is the time to act.”
If you have been thinking about selling in 2022, now could be the time to take advantage of the market.
Contact O’Neill Estate Agents today to find out how our innovative strategies can achieve a premium result for you.