Median dwelling values in the greater Brisbane area are now $840,000, reports realestate.com.au.
This follows a 0.50 per cent growth spurt last month and takes annual growth to 14.14 per cent.
That’s a lot of numbers, but what does it all mean if you’re trying to buy or sell?
It’s great news for sellers who will likely be in for a pleasant surprise when it comes time to value their home.
For buyers, it can be daunting buying in a rising market, but there is some good news here too. The pace of growth is slowing, so you can relax a little.
You can also feel some peace of mind in the knowledge that you’re buying in a market with strong growth fundamentals.
Here are a few tips to make sure you’re in a strong buying position in the current market.
Get your finance sorted. Get some independent financial advice or talk to an independent mortgage broker, so you know your budget and can feel confident making an offer.
Do you research. Talk to local agents about what you can get for your money and ask to join their mailing list to get a heads up on properties as they’re hitting the market – or even before.
Know what’s important to you. What are you prepared to compromise on? Is the number of bedrooms more important than the size of backyard? Is walking to a train station top of your list or is a bus stop OK too? Be clear on your priorities and you’ll recognise that perfect place when you see it.
Ready to make your next move in a moving market? View our current listings for sale or talk to us about selling.
Curious about how much you’d get for your home? Find out how much your property is worth.