New research completed by RP Data shows that available properties are on the rise. This is particularly prominent for properties in Bulimba and Brisbane. The data showed that over the four weeks leading up to 9 November 2014, 53,781 new properties on the national market.
Nearly 12,000 of these new listings belonged to Queensland. This is a 10.8 per cent increase on the number of properties on the market 12 months ago. Brisbane contributed almost half (5,222) of these newly listed Queensland properties. This is up a huge 18.2 per cent year-over-year rise.
This large increase in supply is having an impact on prices. The Housing Industry of Australia (HIA) welcomed statistics from the Australian Bureau of Statistics (ABS) showing a slowing in price level growth. HIA Senior Economist Shane Garrett claimed this data displays that "price growth is easing to a much more sustainable rate". He went on to show the full measure of which this growth has slowed by stating "[t]he annual rate of home price growth is back in single figures for the first time in a year".
With supply increasing and price growth slowing, now is a great time to be looking for property.
BRISBANE’S MOST EXCLUSIVE PRESTIGE PROPERTY AUCTION EVENT On Saturday the 5th of December, at Brisbane’s amazing Calile Hotel, we are going to be holding a prestige property auction event. This will be the most exclusive auction event ever to be held in Brisbane! The event has already attracted national and … Read more
In the quest of a safe sale, many homeowners make the mistake of stripping away decor and design to leave what was once a lived-in home feeling like four cold, empty façades. A prospective property buyer needs to be able to visualise themselves in a home and find their own … Read more