If you’ve been paying any attention to the property market or been a part of it as a buyer or seller recently then you’ll know that it has certainly been a buoyant and competitive market. Properties in Brisbane and the Sunshine Coast, both markets we are active in, have been selling with multiple offer situations and for over listing prices and expected values. A limited supply of stock on the market throughout the COVID pandemic and increased buyer interest has seem some good price rises recently. Current published property statistics indicate a moderate increase for housing in the November Quarter statistics (Corelogic, but I would expect the next quarter statistics to paint an even brighter picture. Even Brisbane’s usually modest auction clearance rate has surged up to 64.1%, up from 38.5% the same time last year https://www.corelogic.com.au/news/quarterly-economic-review-december-2020).
Thankfully, the Christmas break, may bring a little sense back to the market as I think that a bit of Christmas FOMO (fear of missing out) may have fuelled the last minute rush this month, although it is certainly still expected to be a rising market well into 2021. We have a number of clients ready to go for 2021!
Don’t hesitate to give us a call if you want to discuss buying property in Brisbane or the Sunshine Coast in 2021.