I don’t think anyone has missed the headlines that the Brisbane property market has seen the greatest increase in house prices in Quarter 1 of this year since the late 1980’s. It seems to be the “hot” topic in the Courier Mail.
We agree that we have seen good growth in our local market since the commencement of the year. Primarily it is as a result of the lack of supply coupled with low interest rates, interstate migration and consumer confidence rebounding post COVID.
To demonstrate how our local market is performing, here are some recent sales in our local area and how they have performed since their last sale.
|Crosby Road, Ascot||$2,600,000||$2,400,000 in 2015|
|Baldwin Street, Ascot||$2,750,000||$2,350,000 in 2015|
|Charlton Street, Ascot||$3,900,000||$397,500 in 1991|
|Palm Avenue, Ascot||$1,891,000||$1,775,000 in 2017|
|Crescent Road, Hamilton||$1,484,000||$1,280,000 in 2021|
|Grays Road, Hamilton||$1,720,000||$1,760,000 in 2010|
|Hipwood Road, Hamilton||$2,841,000||$2,800,000 in 2012|
|Adelaide Street East, Clayfield||$1,450,000||$950,000 in 2017|
|Barlow Street, Clayfield||$1,630,000||$1,480,000 in 2017|
|Bernie Street, Hendra||$1,350,000||$830,000 in 2014|
|Long Street, Hendra||$1,167,500||$850,000 in 2012|
|Florrie Street, Wooloowin||$1,350,000||$1,100,000 in 2017|
|Hunter Street, Wooloowin||$1,030,000||$890,500 in 2017|
Whilst the difference between the bought and sold figure is impressive in the majority of sales, the cost of stamp duty, commission and any cost relating to improvements during the period of ownership needs to be factored in to determine the net result.
Whilst interest rates remain low and confidence in the economy continues, we expect house price growth to continue. Any adverse change in inflation may see interest rates rise and hence growth stall. As Ross Greenwood says – “its a delicate balance”.
If you have made the decision to move or would like to explore your options, we would love to help you to achieve a premium price for your current home. We would also love to work with you to find your next home. Our door is always open – You are our focus.
0438 767 439
- 109a Eildon Road, Windsor
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