Brighter Selling

Market update: Brissie prices soar $30k in 3 months

by Richard Parker, Sales Manager 24 April 2024

Brisbane home values have continued to rise for the first three months of this year with more growth likely.

Median Brisbane dwelling values were $787,217 at the end of 2023 and by the end of March 2024 had reached $817,564, according to the latest CoreLogic Home Value Index.

While cost of living pressures are being felt, an expected stabilisation of interest rates, and continued population growth is likely to keep the market in positive growth territory.

This is great news for sellers and the latest CoreLogic Pain and Gain report confirms it.

Almost all sellers are pocketing a profit.

To be exact, 99.3 per cent of house sellers and 95.6 per cent of unit sellers sold for a profit in the three months to December 2023.

That’s a big jump in profit making sales for units which dipped to around 60 per cent in the pandemic. CoreLogic predicts the gap will narrow further.

The median profit for Brisbane sellers was a whopping $308,825 based on a median hold period of 8.9 years.

In the Moreton Bay region the median profit was an equally as impressive $300,000 based on a median hold period of 7.4 years.

That’s not a bad pay day.

Favourable selling conditions are prompting many home owners to seek an appraisal. If you’re interested to find out what kind of sale price you could achieve, find out how much your property is worth or contact us for a chat.