A MESSAGE FROM RACHAEL SPINKS As we arrive at the half-way mark of 2024, I am pleased to report that we are conducting business in an extremely robust market. The Brisbane property market has consistently out-performed expectations, achieving some of the fastest-rising home values in the country this year. In fact, Brisbane property prices are now at an all-time high, making it the second most expensive capital city in Australia. Recent data from CoreLogic’s Hedonic Home Value Index (July 1, 2024) lists Brisbane’s median house value now as $953,028 and median unit value at $622,567. It is our experience at SpinksCo Residential that our property market is strongly in favour of sellers. Buyer demand for prestige and lifestyle properties continues to outweigh supply, and many of our listings have attracted multiple offers and outstanding sales results. I am very proud to announce that four of the top 10 tennis court home sales belonged to sellers represented by SpinksCo Residential. It is fair to say that the unprecedented demand we have experienced for prestige and tennis court properties was initially driven by interstate and expat buyers looking to resettle in Brisbane during and since the Covid pandemic. However, so far in 2024 much of the demand is now coming from local families eager to upgrade and secure their “forever” family homes. Many of our sellers are keen to ‘cash-in’ on the enormous capital growth they have accrued in their homes. Many of these homes have been tightly held over the last 20 or more years. Meanwhile our ‘local buyers’ have now gained the confidence to invest big dollars in Brisbane’s prestige properties. No longer prepared to sit back and watch the cashed-up interstate and international buyers snap-up our most prestigious lifestyle properties, local Brisbane families are now lining up to secure their piece of the Brisbane prestige property pie. With property values up approximately 16.3% over the past year, and economists and the big four banks all predicting Brisbane’s property values are primed to keep rising in 2024. Right now may just be the perfect time for downsizers to sell their large family homes and secure their luxury apartment or sea change. No matter whether you are a seller eager to capitalise on the unprecedented growth in values, or you are a buyer hoping to secure your forever home, SpinksCo Residential warmly invites you to call for a confidential discussion on your future property needs. Rachael Spinks 0411 10 10 15 www.spinksco.com.au Follow us on Instagram - spinkscoresidential
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