A truckload of new stats, reported by Smart Company, show why Brissie is tipped to be a hot property market in 2020 for investors and owner occupiers alike.
It’s time for your inner analyst to get excited. Read the numbers and see for yourself:
- Brisbane’s median property prices are around 55 per cent of Sydney’s while household incomes are only 12 per cent lower – making Brisbane super affordable.
- The average days on market for a Brisbane home is now 50, holding steady from 49 days a year ago. But – in case you missed our video wrap last week – a well-priced house here in north Brisbane can be snapped up in just seven to 14 days.
- Sellers are discounting their asking prices on average by just 4 per cent, compared with closer to 5 per cent a year ago.
- 5 per cent fewer properties sold in Brisbane in the last 12 months compared to the previous year.
- All this means, house prices are holding strong, notching up 0.7 per cent growth last month and 2.3 per cent last quarter.
That’s all great for houses. But what about units? The Brissie unit market is softer than our housing market, dropping 0.6 per cent last month, following a 0.4 per cent rise last quarter. But the good news for unit owners is that a recent CoreLogic analysis shows the amount of new unit stock hitting the market has been moderating in recent years after a period of over-supply. CoreLogic is forecasting a likely return to long-term averages for unit completions in 2020.
Couple this with growing migration and the Brissie market for houses, and also units, is looking pretty healthy.
Want to buy in a solid market? View our current listings for sale or talk to us about selling.