Market Report: QLD real estate update, September 2018

SEPTEMBER 14, 2018

The Sunshine Coast was among the best performing regional areas in Australia in the 2017/18 financial year according to the latest CoreLogic hedonic home value index.

The famous holiday mecca enjoyed capital growth last financial year of 5.5%.

In Brisbane, the annual growth was a more modest 1.1% over the past year, although Chris Vote, Sales Manager, Raine & Horne Wynnum/Many said activity has picked up in the last month. “We’re seeing more buyers at open for inspections, the phone is ringing more, and even listings are picking up,” Chris said. “This is good news after a few tough winter months. There’s no doubt the colder weather combined with, the tighter lending conditions in the home loan market contributed to the previous challenging conditions.”

The prospect of warmer weather is central to a pickup in activity, according to Chris. “The savvy buyers and sellers recognise that spring is less than a month away and they are getting their plans in motion to make a move before the traditional real estate selling season hits full swing.

“Buyers are looking to get a deal on properties that haven’t sold in winter and before the market shifts up a gear in spring.”

Chris adds that the Manly prestige market has proven to be an exception to the rule with transactions continuing to tick over. “Many buyers in the Manly prestige market are not dependent on bank finance to fund a property transaction and use the equity in their assets to purchase properties,” commented Chris, who is selling a magnificent waterfront property at 431 The Esplanade, Manly for offers over $2.5 million.