BY BYRON FREEBORN, RAINE & HORNE, WYNNUM
Being by the bay, we have our fair share of boaties, yachtsmen and yachtswomen; I was even bobbing up and down out there helping the RQYS race committee some years back, and one thing that has always been evident: nature changes. Life works in cycles. Which brings us to today’s article – how’s the property market tracking, and are things changing? The answer is always “yes”.
What are the current market changes that we, the real estate agents, see and hear now? Below are my thoughts, based on first-hand experience and reaching out to my colleagues in the local area and those working in the greater Brisbane and Sydney real estate industry.
So, what’s changed? The tone of the market has begun to mellow. The numbers of attendees at open homes have dropped; however, the serious buyers are still very much in the landscape and making committed purchasing decisions. The bar on price has increased over the last 12 to 18 months of market activity – a trend that has so far remained steady. Perhaps it’s the rapid price increases month-on-month that the market has only just begun to adjust to?
While interest rate rises are on the horizon and the consumer price index has increased, some buyers are thinking about purchasing now to lock in a low interest rate rather than hold back to wait and see. For the last three spring/summers running, we have seen a ramp-up of buyer and seller activity off the back of milder winters. Could Spring 2022 replicate this trend?
