In October, Brisbane’s property values achieved a new all-time high, rebounding strongly after a brief and substantial decline in median values witnessed in the latter months of 2022. We’ve seen 10 month-on-month increases in median property prices, resulting in values up 10.3% since January 2023 - certainly not what most market pundits were picking at the start of this year. House values have risen 1.4% over October, adding approximately $10,000 to the median price, and unit values are up 1.3% or a little over $7,000. Such strong growth conditions are occurring amid low advertised supply levels, which were tracking almost 41% below the 5-year average at the end of October Consumer sentiment does currently sit at historically low levels, and we all understand that we’re not immune from the impact of global tensions. Although inflation remains persistent, it is starting to come down. This means we may see another rate rise in 2024 however it does look like interest rates are either at peak, or very close. Positive factors such as interstate migration, a robust local economy and Brisbane’s relative affordability continue to give us confidence. It’s never too late to enter the market or take the opportunity to upgrade, particularly if you are looking for a highquality property that will continue to outperform others over an extended period. Nobel Realtor’s mantra of ‘Dedication, Integrity & Results’ is applied to every campaign to ensure that an optimal property solution is achieved. Don’t hesitate to get in touch, if only for an informal chat. We look forward to being of service. Anna Samios Principal and Lead Agent, Nobel Realtors Welcome
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