Local Market Review After an unprecedented period of price growth throughout Fig Tree Pocket in the last 12 months, many local home owners want to know: “What’s in store for the Fig Tree Pocket market in the coming 12 months?
The underlying sentiment appears to be that some stability will return to the market, the frenzy has passed and we are moving towards more sustainable market conditions where there will be a balance of buyers and sellers. Buyers are becoming more cautious and we are seeing slightly less competition throughout Brisbane.
Many homeowners fear that following a upwards trend in median prices there will negative growth, however history suggests that the blue-chip nature of our local area will not see any significant decline in property value. We believe many home owners will take advantage of this stable market and either upsize or downsize as conditions offer confidence that the market will not alter significantly during a transition.
Having worked through many market cycles, we have seen it before! In our experience we expect we will now go through a sustained growth period of 2%-5% per year unless we experience unprecedented global conditions. More people will take the opportunity to move around within our postcode and move from surrounding areas into Fig Tree Pocket.
Our team at McGrath were personally involved two out of the top 4 local sales and we feel market conditions throughout Fig Tree Pocket are very healthy in all price points. With two well marketed trophy homes achieving new benchmarks for the suburb, we are sure to attract more out of area buyers acknowledging the benefits of this sought-after enclave. We are excited about the next 12 months. We find that a transitioning market really showcases the importance of agents where experience, knowledge and track record is the key to success of a sale. We look forward to hearing from you, if you would like to discuss these observations or any of your real estate plans.
Fig Tree Pocket Statistics - Past 18 Months
$7.5
Highest sale price
$1.23m 145 42
Average sale price
Number of properties sold
Average days on the market
28.8%
Annual growth
$600pw 6 years
Average rental price
Positive median growth
RP Data
Why McGrath
858 94
Sales people
Offices connected throughout our network
$13 billion 553k
Total value of properties sold in FY17
Website visits
China Desk 401k 86.9k 33.3k
Servicing Mandarin speaking clients
Approximate buyers in our database
Followers on social media
Properties managed
July 2018
A selection of our recent sales
39 Ellerslie Crescent, Taringa Sold $6.65m
98-100 Goldieslie Rd, Indooroopilly Sold $4.385m
39-45 Florrie Street, Lutwche Sold $4.248m
105 Outlook Crescent, Bardon Sold $4.2m
71 Tristania Road, Chapel Hill Sold $3.9m
684 Jesmond Rd, Fig Tree Pocket Sold $3.675m
7/58 Tristania Drive, Bardon Sold $3.485m
10/680 Jesmond Rd, Fig Tree Pocket Sold $3.31m
8 Martin Lane, Indooroopilly Sold $3.25m
32 Ivy Street, Indooroopilly Sold $3.25m
41 Glencairn Avenue, Indooroopilly Sold $3.21m
57 Castile Street, Indooroopilly Sold $3.2m
40 Plunkett Street, Paddington Sold $2.62m
4 Grove Street, Toowong Sold $2.575m
19 Charlene Ave, Indooroopilly Sold $2.575m
Client Testimonials “Alex and Frazer approached us about 2 years ago to do an appraisal of our home. They knew we were not in the market to sell but he gave us an idea of how our thoughts of value were and how that stood in the then current market. They recently approached us as he had identified a potential buyer who they considered would be perfect for the house and thought the price we were wanting was in line with what they were prepared to pay. They arranged an inspection and within a day we had an agreed price that we were extremely happy with and what we thought was fair for the potential purchaser. We found Frazer and Alex’s approach throughout the whole process very professional and we always thought that they, as our agents, had our best interests in mind. We have no hesitation in recommending them both to manage the sale of your property.” Brian McDonald
“If you are looking to sell your home and want a salesman NOT an order taker then the duo of Alex Jordan and Frazer Watson will fit the bill perfectly. Both gentlemen are professional in the extreme. Efficient and helpful throughout the whole sales process. Communication was First Class and information was passed on in a timely manner. They were always punctual (usually 15 to 20 minutes before schedule) for openings and/or sole inspections and their attention to detail in assisting to prepare our home was the best we had experienced in all the home and business sales we have had over the decades. We cannot recommend these two agents highly enough. Our deepest thanks for taking away the stress we have experienced with other agents over the past two years.” Wayne and Denise Frew
“Frazer did a great job managing the sale of our house. Professional, courteous and kept us informed throughout the sales campaign. The house sold quickly with multiple offers to consider. Frazer achieved a great outcome for us and we would recommend him to anyone looking for an agent.” Peter and Flasta
“We recently sold our home and Alex Jordan and Frazer Watson of McGrath were our agents. We have never met agents with their knowledge of the market, especially at the higher end. They had all the statistics and knew how to negotiate on our behalf with expertise and realistic confidence. Alex was always willing to discuss any concerns and when it came to writing the contract, after securing an appropriate price, he was phenomenal in wording clauses to give us complete protection in the event of an unforeseen complication. Alex was always polite and extremely informative. He was a good man to have on our side. We would recommend him to anyone.” Eric and Alexis
“Alex and Frazer made the experience of selling our house stress-free and easy to follow for first time vendors like us. They were the only agents that gave us clear figures to work with and took time to answer questions about the process. After consulting with us, they came up with a clear plan that we were comfortable with. They stuck to the plan and the house was sold after the first open home, with results that exceeded our expectations. Alex and Frazer will be our go to agents in the future and we would recommend them to friends without hesitation.” Simon Avril
“My husband, Tim, and I have had the most unexpectedly wonderful real estate experience with Alex Jordan of McGrath, Paddington. We were planning to list our property soon when a letter arrived in the mail box from Alex and his colleague, Frazer. Naturally we were wary of any real estate dealings as there can be many traps for the young player, not that we are any longer so young! However, Alex appeared to be a very ethical and knowledgeable person. We were very impressed by the wide range of considerations with which he engaged in our lengthy discussions. He could immediately assimilate our wishes and apprehensions, giving us all the information we needed at all stages and allayed our misgivings about doing business regarding a development site. At no stage were we disappointed or inclined to change our first impressions of Alex. What you see is what you get. Some friends thought we were somewhat naive to sing the praises of our real estate agent and the very sensible and ethical developer to whom Alex introduced us. Alex proved to be very sensitive, perceptive and compassionate as well being totally honest and punctual in all of his dealings with us over more than 3 months. Our deal is now complete, the money is in the bank! We feel so privileged to have had such a skilled professional to negotiate for us and achieve a price with which we, our neighbours, family and friends are all very impressed. It all went so smoothly, beyond our expectations. We would have no hesitation in recommending anyone to trust Alex to handle their real estate matters. It was certainly an impressive experience for us. Thank you, McGrath Paddington for your wise choice of representative.” Shirley Fraser and Tim Harlock