The South East Queensland property market has now clearly moved into the recovery phase of the property cycle with eight month-on-month increases in median property prices. Values are up 6.2% since bottoming out in February this year and house prices were up 1.3% in September. We look poised to end 2023 with an 8% increase in home prices. Compared to the previous year, housing stock remains very low. Limited choice has led to strong buyer competition and solid selling conditions, leading to a surprisingly robust winter period for real estate transactions. Inflation has now peaked and it’s likely so have interest rates and in due course consumer confidence will return and the markets will continue their upward trajectory. Brisbane’s median house value sitting at just 63% of Sydney’s suggests a powerful blend of growth and affordability, making the city an increasingly attractive option for investors. Our great lifestyle will keep Welcome attracting both interstate and overseas migration. If you’re considering selling your home, speaking to a top local agent is one of the best ways to get a thorough understanding of how buyers are behaving in your suburb. At the very least, it’s helpful to hear what demand is currently like for homes like yours, and to get a no-obligation appraisal of what your home might sell for in the current market. I would be delighted to help you with your property journey. Gina Gina Kirkland Sales Consultant, Harcourts Unite
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