SCENIC ROAD PROPERTIES

Market Review

The place to be...

South East Queensland continues as the place to be and has proven as one of the most stable property markets in the country. Despite the past 10 months of interest rate hikes and market uncertainty throughout Australia, the local Brisbane and Gold Coast regions continue to outperform the other states.

Driven by supply shortages, high jobs growth, migration and cost of replacement the local property market saw the steepest annual climb in 13 years during 2021 as the relentless demand for property in Queensland reached its peak adding on average over 45% to property values in this time across the state.

In 2023 after a short period of adjustment to peak pricing, trending median values have stabilised and once again are beginning to improve only demonstrating further that the SEQ property market offers plenty of value to owners and investors locally, nationally and internationally.

Regional property markets surrounding Brisbane and the Gold Coast continue to outperform also as outstanding demand for rural and lifestyle property located close to city centres is as strong as ever. Meaning lifestyle areas are usually outperforming properties in both the inner and outer city suburbs. Prices have remained strong however days on market have increased since mid 2022.

It is worth noting that due to a short supply of premier A grade hinterland homes, farms and investment properties, a surplus of cashed up buyers for quality properties is providing for a seller's market where asking prices could just keep rising.

The Federal government forecasts suggest that Queensland’s population is expected to grow by more than 16 per cent by the time Brisbane hosts the Olympic Games in 2032 and that job availability will remain high throughout this period. The state remains one of the country’s most robust, if you’re looking to buy, you’ll be pleased to hear that you can get more bang for your buck in Brisbane compared to Sydney and Melbourne.

So…. if you are looking to sell in 2023, you can sell with the confidence that you can achieve good results.

As always preparation & presentation is the key to a great sales result. Ensure your property stands out from the rest by engaging an agent who will provide your property, whether big or small, a world class marketing campaign. Be sure to broadcast your property sale as far and as wide as you can afford. The buyers are out there.