The value of Brisbane houses fell half a percent in May, while units actually rose 0.1 per cent breaking a long-running trend of falls, reports Yahoo Finance.
While values haven’t shifted noticeably the average seller may find their buyer is taking a little longer to walk through the door.
The average selling time has increased from 36 days a year ago, to 55 days. Vendor discounting has increased slightly from 4.3 per cent a year ago to 5 per cent.
All the signs point to a market where buyers can breathe a little easier than a year ago, but vendors are still achieving solid sale prices.
“With migration rates lifting, supply under control and generally healthy levels of housing affordability, the Brisbane housing market fundamentals are looking healthier compared to most other capital cities,” the report said.
“At the same time the underlying strong demand from home buyers and investors from the southern states at a time when yields are attractive and housing affordability is relatively healthy is putting a floor under property prices.”
Across Australia, prices are stabilising in most capital cities, with Sydney and Melbourne price drops now “moderating”, while Adelaide, Hobart and Canberra each saw modest price increases.
Ready to make your move in a balanced market? View our current listings for sale or talk to us about selling.
