Brisbane's Selling Summary
CoreLogic have just released its first quarterly Pain and Gain report, giving us a look at how our local market has performed for 2017’s January to March period. Here we’ll give you the fast facts to let you know where you stand in south Brisbane.
Safe as Houses
Of all properties sold in Brisbane over the past three months, 9.2% of apartments were sold at a loss, as opposed to only 3.8% of houses. This means this is a good time for house owners to sell, as you’re more likely to make a profit, and also a good time for apartment buyers, as the large numbers of apartments currently being built mean you’re more likely to get a good deal.
In general, owner-occupiers fared better than investors in the first quarter, with investors 2.5% more likely to resell at a loss in Brisbane. However, this is still considerably less than the nation 9.3% average for Australia, with Brisbane only outpaced by Melbourne and Sydney, property markets widely considered to be in the middle of a housing bubble.
Take Your Time
Still, apartment owners aren’t entirely without good news, with apartments that did sell at a profit having been owned for roughly 7.6 years, as opposed to the 9.1 year average ownership period for houses sold at a profit. This means apartment owners generally won’t need to wait as long to turn a profit on their investment, even if their market is more variable.
All in all, Brisbane has fared well in comparison to the rest of Australia, although of course there’s always room for improvement. Still, to get the best from your market, it’s always good to talk to your local LJ Hooker Sunnybank Hills expert, as we can give you the advice you need to maximise your profits.