It does however signal that our market is continuing to come off the boil following a record high point in June, but we’re still steadily simmering.
Meanwhile, nationally, home values fell by 2 per cent over the three months to July.
The stats are from the latest CoreLogic Monthly Housing Chart Pack.
It shows the total value of all residential real estate in Australia is worth an eye-watering $9.8 trillion, and more than 57 per cent of Australia’s household wealth is held in housing.
Aussies have $2.1 trillion in mortgage debt.
Taking a closer look at Brisbane’s stats, we can see:
- The average days on market in the three months to July was 23, up from 17 at the same time last year. This shows our local market is moving faster than the national pace of 32 days.
- Sales volumes were up 9.9 per cent over the 12 months to July. Again, we’ve outpaced the national pace which saw a 0.6 per cent change over the same period.
- But some Brissie buyers are still watching from the sideline with a drop of 5.7 per cent in new listings compared to the same period last year. Australia overall saw an increase of 4.6 per cent.
Overall these figures show our local market is holding up well in the face of interest rate rises and while some sellers might be cautious, those diving in are still seeing solid results.
Think it’s time to dip your toe in the market? Book a valuation or talk to us about selling.
