And the property clock confirms it. What’s a property clock?
It’s a clever way of showing if a market is rising or falling. Imagine a clock face where 12 o’clock is the peak, 3 o’clock is declining, 6 o’clock is the bottom and 9 o’clock is a rising market.
Property valuers Herron Todd White publish one each month, and in their September Month in Review report the clock shows both Brisbane houses and units have changed gear.
Brisbane houses have clicked over to 3 o’clock – a declining market. This follows some steep monthly drops, but keep in mind prices remain well above pre-pandemic levels following our turbo-charged period of growth.
Brisbane units are now sitting at 12 o’clock, the peak of the market. As house prices soared, units became an affordable alternative. After years of a unit surplus in many Brissie burbs, the growth spurt was a long time coming. It’s not been as impressive as the house price boom, but it certainly reflects an increase in value-hunting buyers.
In other southeast Queensland changes, Ipswich followed the Brisbane market moves, while the Sunshine Coast ticked into peak market territory.
For buyers or sellers wondering if it’s the right time to make a move, remember that the clock reflects broad brush averages, and it’s best to talk to a local agent to understand what’s happening in your suburb.
Think it’s buy time? View our current listings for sale.
Think it’s sell time? Book a valuation or talk to us about selling.
