The property clock is a neat way of picturing the housing market price cycles.
Picture 12 o’clock as the peak of the market, 3 o’clock is a declining market, 6 o’clock means the market has bottomed out and 9 o’clock is a rising market.
So what time is it in Brisbane?
It’s 7 o’clock for houses according to the latest Herron Todd White Month in Review.
That means we’re officially at the start of the recovery.
Units are sitting at 12 o’clock meaning they’re at their peak.
The Herron Todd White report authors note that despite the price gains, Brisbane remains very affordable compared to other capital cities.
But first home buyers and value hunters are starting to shift away from detached homes in favour of more affordable units and townhouses – which you can find in some favourite north side hot spots.
“We have noted that in recent years, first home buyers here have been transitioning away
from traditional detached housing and towards townhouses and other attached product. This move is being prompted mostly by relative affordability,” they write.
“Our teams have seen strong demand from first homeowners for townhouses in Albany Creek, Brendale and Strathpine. These first-time buyers have probably also been renting in the area and given how rents have increased in recent years, it now makes financial sense to buy instead.”
They also note Arana Hills as a popular spot for units, while good value freestanding homes can still be found in Mitchelton.