Good Buyer Enquiry
From what we are seeing in the area in recent weeks, there is good buyer enquiry around the inner Brisbane suburbs within 10km of the City at the moment. There is a hike in competitiveness for established houses and the land they sit on as properties are becoming scarce.
According to realestate.com.au, of 326 suburbs in Qld, Annerley ranked 28 in the states most tightly held suburbs with only 3.8 percent of the suburbs houses listed for sale in the last 12 months. Moorooka ranks as a suburb more open to house sales at number 83 in the rankings with 4.8 percent of its houses listed for sale. Yeronga ranks 47 with 4.37 percent. Woolloongabba ranked an impressive and unsurprising 3rd with 2.85 percent of it’s houses going up for sale in the past 12 months.
That being said, according to the courier mail earlier this month “total listings numbers are 5.4 per cent higher than they were a year ago, however analysts are seeing fewer new properties being added to the market compared with the same time in 2015.” Core Logic described that there were 2.7 percent less new listings over June than there were last year. The article described the situation as a perfect storm for getting your house on the market due to “cheap cash” afforded by low interest rates and fewer new listings.
The article also mentioned Core Logics statistics on Brisbane’s median house prices, stating they have grown a whopping 5.3 per cent to $475,000 in 2015 – 2016 indicating the strength of Brisbane’s property market future.
With demand so high and supply so low, the atmosphere for those wishing to sell their houses in this area is primed. Meanwhile, from what we are seeing with enquiry, buyers are aware that the opportunity to buy established homes in these inner city south suburbs is highly competitive.
