As we step into a new year, I extend my warmest wishes to you for health and happiness. While property values remain in growth territory, the pace has softened. Market conditions are increasingly favourable for prospective buyers. An expansion in available listings has broadened choice. Adding to the positive outlook, in the third quarter of 2024 Australia’s annual inflation rate dropped to 2.8%. This was the lowest reading since the first quarter of 2021, strengthening expectations of an interest rate cut in early 2025. Our local property market’s annual performance remains robust, especially compared to those of Sydney and Melbourne. Over the past 12 months, house prices have recorded a significant 11.8% increase. As at the end of November, Brisbane’s continued appreciation brought its mean house price to $997,704 - positioning it on the cusp of the million-dollar threshold currently occupied by Melbourne and Canberra. The unit sector has achieved an impressive 14.7% annual gain, with the mean price across Brisbane reaching $675,254. The shift towards medium-density living is a continuing trend in Brisbane as more people seek affordable alternatives to traditional houses without compromising on space and location. Townhouses offer a great balance, providing more room than apartments but at a lower entry price than standalone houses. This segment is gaining popularity among young families, professionals, and downsizers. If you’re considering a move in 2025, get in touch with me for a chat about your options. I look forward to helping you realise your property goals. Ela Milne Licensed Real Estate Agent Elite Sales and Marketing Executive WHAT’S HAPPENING IN OUR MARKET?
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