Brisbane has been officially dubbed a “rising market” according to the latest analysis by property valuation firm Herron Todd White.
Each month they release a “property clock” which uses a clock face to show whether a market is at its peak (12 o’clock), declining (3 o’clock), at the bottom (6 o’clock) or rising (9 o’clock).
According to its most recent analysis, the Brisbane housing market ticked over into a rising market in March.
The unit market remains at the start of the recovery phase, which is somewhere between 7 o’clock and 8 o’clock.
Further afield, the Ipswich market also ticked up to rising, as did the Gold Coast unit and housing market.
A rising market is great news for sellers, but what about buyers? The potential for continued growth is reassuring once you’ve bought into the market.
But if you’re a bargain hunter, here are some ways Herron Todd White suggests you can buy affordably.
Be prepared to buy smaller, whether that’s fewer bedrooms or square metres.
Buy a doer-upper, but one that really just needs cosmetic touches like carpets and paint. Structural repairs could get pricey.
Or, if you’re open to making potentially bigger compromises, consider buying in a less desirable location like on a main road, or buy a home with an odd floor plan, such as needing to go through a bedroom to get to another room.
Looking to buy in a rising market? View our current listings for sale.
Ready to cash in? Find out how much your property is worth or talk to us about selling.