The latest data from CoreLogic has revealed that Brisbane dwelling values are currently at a record high.
Brisbane dwelling values have been steadily increasing month-to-month since March. In November, dwelling values rose by 1.3% and over the past year, dwellings values have increased by 10.7%.
Source: CoreLogic
When it comes to sales volume, the figures reveal that volume is -6.8% lower than than the twelve months prior. However, they have trended higher toward the end of this year as seller confidence grew and sellers took advantage of Spring and Summer selling conditions.
CoreLogic data also reveals that new and total listings are trending lower in Brisbane relative to a year ago, which explains the growth in the market. New listings are -9.8% lower than the equivalent period last year, with total listings -18.3% lower from the equivalent period last year.
It is evident that buyer demand continues to outweigh supply, as people seek to upgrade, downsize or move to the capital of the Sunshine State from interstate or overseas.
We are expecting to see this trend continue into the New Year as the usual catalysts for change, like employment transfers, school transitions and lifestyle upgrades come to fruition.
We’ll be working all Summer at Place and will be hosting our ‘One Summer Day’ in-rooms and on-site Auction event on 31 January at Place HQ and across Brisbane. If you would like to take advantage of these market conditions and stand out to buyers this Summer, get in touch with your local Place agent today.
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