South-East Queensland Prices Holding Strong
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.