That compares favourably to the national average of 90% and places Brisbane in a respectable fourth position nationally, behind Hobart, Melbourne and Canberra.
All eyes are eagerly awaiting the second quarter data which will show the COVID impact on property resales, reports Property Update.
There was a 32.4% decline in property sales in April 2020, which then recovered over May and June.
“The Pain and Gain results over the second half of 2020 could see an increase in the portion of loss-making sales, but the volume of sales activity may be more subdued, as vendors were less likely to test the market at the height of the pandemic,” it says.
So what’s the story in Brissie?
CoreLogic’s Brisbane Housing Marketing Update for July 2020 shows some healthy-looking digits.
House values have held firm, dropping just 0.1% over the three months to June, while units dipped 0.8%. Rents have seen a mild drop of 0.6%.
“However, local rental yields remain well above the combined capital city average tracking at a gross 4.2% for houses and 5.2% for units,” reports Property Update.
“In a positive side of housing demand. Sales activity has shown a sharp rise over the past two months up by an estimated 74% since activity plunged in April.”
Check out the percentage of houses that sold for a profit in the March 2020 quarter
- Hobart 97.7%
- Melbourne 97.3%
- Australian Capital Territory 97.0%
- Brisbane 94.6%
- Sydney 94.5%
- Adelaide 92.4%
- Perth 67.4%
- Darwin 60.2%