Price growth and inspection numbers: Two signs the Brisbane market is in better shape post-election

first_imgThe first is in the inner-city apartment market. This section of the property market has been kicked around the last couple of years due especially to the abundance of units available either ‘off the plan’ or through re-sale. Prior to the election we started to see an increase in buyer activity, and this has continued to build in momentum. We have seen price growth but it’s from the low base of the market, not necessarily from what people paid in previous years. More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoHowever, with price growth comes the opportunity to eventually claw back to the levels investors paid over the last couple of years. The inner-city property market had an immediate “sugar hit” immediately after the election. Pic Annette DewIn the first week after the Liberal government retained power we saw inquires roar with 674 in the week after the election compared with 471 the week before.Fast forward a month and the news from the front line is that the market has tempered. The initial rush has not translated to an increase in property prices specifically, but we have seen an increase in two very important areas. MORE NEWS: The most expensive home sales in southeast Queensland this financial year Brisbane named the first home buyers hotspot of Australia Ray White New Farm auctioneer Haesley Cush in action (AAP image, John Gass)The second area of significant improvement has been in the number of open house attendees since the election. In those early weeks we only saw a shift in buyer inquires. We can now analyse the four weeks after the election against the four weeks prior, and here are the numbers. Open for inspection attendees in the four weeks pre-election were 749 compared to 996 in the four weeks post-election. That’s approximately a 30 per cent uplift in inspections!It will take a few months for sales to settle and prices to be recorded. We will still have some soft patches this year and the jury is still out on whether we will see house price growth, but these are certainly the signs we are looking for. *Haesley Cush is a real estate agent and auctioneer for Ray White.center_img Property turnaround: Home values on the way up again Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:44Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:44 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow to bid at auction for your dream home? 01:45Since the election there has been a lot of talk about the property market and the increase in activity since the 18th of May result. From the inner-city Brisbane residential real estate side, we saw an immediate sugar hit in the week after the election. last_img

0 thoughts on “Price growth and inspection numbers: Two signs the Brisbane market is in better shape post-election”

Leave a Reply

Your email address will not be published. Required fields are marked *