Warm regards, Brigette Righton Brigette Righton Director 0407 880 006 brigette@rightonproperty.co The Brisbane property market’s seemingly endless run of blazing growth is now in the rearview mirror. After home values exploded by +42.7% from the Covid trough to the market peak in June 2022, Brisbane house prices backed off again in the December quarter, according to CoreLogic data, as the Sunshine State finally began to catch up with the other East Coast markets. The impact of rising interest rates took some time to be felt in Brisbane when compared to other markets thanks to superior affordability, and an extended period of high interstate migration to Queensland has helped bolster housing in the state. Perspective is everything, though, and there are a number of positives that are worth considering when thinking about whether or not to sell. Firstly, prices are dropping from a record-high peak. The majority of sellers will have made significant gains over the past two years, and so far the reversal of growth is only taking a small bite out of that historic boom. Secondly, a downturn may be welcome news for sellers who are also buying, particularly upsizers. If you’re seriously 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 properties are selling for, 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. We know the market like the back of our hands and would be delighted to help you along the journey. MARKET UPDATE
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