While the higher end of the market is leading the growth in Sydney and Melbourne, here in Brisbane we’ve seen 3% growth across all market quartiles – the cheap end, the pricey end and in between.
This growth spurt brings Brisbane prices to within 8.2% of their previous peak in June 2022, according to the latest CoreLogic Monthly Housing Chart Pack.
In other stats news, sales volumes are down -23.4% from a year ago and it’s taking an average of 27 days to sell a home, compared to just 17 days a year ago.
But there are continued signs of market stabilisation.
Brisbane vendor discounting – that’s the difference between the asking price and the sale price – has remained steady at -3.6%, below the national average of -4.0%.
A lack of new stock to market is contributing to the property price bounce back.
Brisbane’s new listings are down -25% from a year ago, says CoreLogic.
According to Proptrack, total listings (that’s new listings plus those already on the market) are a whopping 40% below typical volumes.
“Choice for buyers was largely unchanged in June compared to May, with the total number of properties listed for sale on realestate.com.au increasing 0.1% month-on-month,” writes PropTrack.
“However, the pick-up wasn’t enough to match last year, and so it was 10% lower compared to a year ago. That means the total number of properties listed for sale across Brisbane is around 40% lower than what has been typical over the past decade.”
Want your home to stand out from the crowd? Now’s a good time to think about listing. Find out how much your property is worth or talk to us about selling.
