South-East Queensland Prices Holding Strong

Category: Tags :

The property market in South-East Queensland has exceeded expectations in the face of COVID-19.

With government restrictions in place, experts had predicted that while prices would avoid a complete free-fall, there could have been slight downturn in property value.

However, due to the limited supply of properties on the market and the high buyer demand, prices have been remained consistent.

A Domain report has shown that prices Brisbane local government area had grown 3 per cent in March, year-on-year.

Their data also shows that the initial wave of confusion and restrictions surrounding the pandemic had minimal impact on vendor discounting.

Though tourism-reliant areas like the Gold and Sunshine Coast tend to be more volatile, vendor discounting in April across South-East Queensland overall have dropped since the COVID-19 restrictions hit.

The year-on-year result shows an average of 13.9 per cent decrease, meaning more sellers are receiving a value that's closer to their asking price.

Despite the uncertainty of the market, there's plenty of room for optimism in South-East Queensland, especially with restrictions easing over the coming months.

If you want to take advantage of this unique market to sell your property, talk to your local Coronis agent to see how we can help you.

More Like This

REIA MEDIA RELEASE - 21 MAY 2020   The REIA says that forecasts of housing price drops of as much as 30% are highly questionable...
Buyers have been staying active in the property market despite not being able to attend inspections due to COVID-19 limitations. Since the...