This takes Brisbane’s total dip from its recent peak down by 4.3 per cent according to the latest CoreLogic Home Value Index.
That looks like a big number. But put in context, our total growth from ‘COVID trough to growth peak’ was a whopping 42.7 per cent. That’s the second highest growth spurt of any capital city in Australia.
So the price drop is welcome news for buyers, while potential sellers can still cash in some healthy post-COVID capital gains.
The question on everyone’s lips of course is: how low will prices go?
Some say that’s a question for the Reserve Bank of Australia to answer.
“As interest rates level out, we are expecting housing prices will also stabilise,” CoreLogic research director Tim Lawless told a recent industry forum, reports MPA magazine.
“Other factors that could contribute to housing prices finding a floor would be any material policy incentives, such as additional first home buyer stimulus which has previously seen a rapid response in demand from this sector of the market.”
Can anyone put a number on the size of the drop?
Well, anyone can have a guess, but the reality is that estimates vary wildly and only time will tell.
When deciding the right time for your next move, consider your own priorities and budget. Do your research and talk to local agents.
Think it’s time to buy? View our current listings for sale
Think it’s time to sell? Book a valuation or talk to us about selling.
