This quarter we have experienced good buyer demand for residential houses in Bardon, particularly those on larger lot sizes. Another stand out area has been the significant increase of buyers from interstate, particularly Sydney, Melbourne and Adelaide. These buyers are attracted to the leafy nature of the inner western suburbs, with good schools and close proximity to Brisbane’s CBD.
Latest Median House Prices from the last 12 months
- Sydney: $915,000 up 4.0%
- Melbourne: $634,000 up 5.8%
- Darwin: $515,000 down 10.4%
- Canberra: $625,000 up 5.0%
- Perth: $520,000 down 3.7%
- Brisbane: $515,000 up 4.0%
- Adelaide: $440,000 up 3.5%
- Hobart: $375,000 up 4.2%
I anticipate this next quarter we will continue to see solid growth in the established housing market; while the unit market will remain segmented based on supply. Interest rate speculation and tighter bank lending could start to impact on investors though.
Rental prices around the inner Brisbane area have plateaued and in some instances, we have seen weakening in rental prices for some properties. As interest rates remain low, there is a greater increase in tenants becoming homeowners. A combination of more tenants leaving the rental market and more stock on the market due to the amount of development we are seeing has also resulted in higher vacancy periods. This is also placing pressure on the time on market for houses as brand new apartments are being offered to the market at a record low price.
I hope you enjoy this edition of my quarterly market report, and I look forward to seeing you out and about in Bardon.
Real Estate Agent
P.D. & M.A.
The Crescent, Chatbot Town
[Agent Name] is the hardest working agent we have ever used. He/Her excellent communication & negotiation skills coupled with an intimate knowledge of the area achieved us a very pleasing result. We would have absolutely no hesitation in using him/her again.
P.A.M. & D.A.
The Street, Chatbot Town
[Agent Name] was highly professional, more than pleasant to deal with and he/she went out of his/her way to facilitate the sale of our property, no matter what time of the day he/she was required. I would have no hesitation in recommending [Agent Name] if you are looking for a dependable, dedicated, and hard-working agent that puts his/her clients first.