This week in Brisbane supply of properties for sale is still restrained, with overall listing volumes down six per cent, compared to the same time last year.
Conversely, we’re seeing record number of people attending open homes, most likely due to the low interest rates, the limited property stock, and the increasing market confidence.
Brisbane is still one of the most affordable cities in the country – with the current dwelling price-to-income ratio just over 5 times (compared to Sydney at over 9 times!).
Coronavirus isn’t having any impact on the market yet, aside from maybe getting your loo paper stolen at an open! Although agencies and agents are starting to plan for how they will offer properties if the risks increase and large-scale shut downs are put in place.
Some local property management agencies have already advised landlord clients that routine inspections won’t be completed due to health risks.
Lastly, investor activity in Brisbane is starting to pick up.
According to smartpropertyinstment.com.au, investors are now buying discounted apartments as a surge in interstate migration and a steadying supply in the market are seen to reverse the trend of decline.