A recent spike in new listings is a sign that spring has come early to Brisbane’s housing market, agents say.
During what is traditionally one of the quietest times of the year for real estate agents, agents across Brisbane are reporting higher than normal listing activity and packed open houses.
Amanda Becke, of Belle Property Coorparoo, said she had planned to take holidays in August but was forced to cancel her break because she was too busy.
“We’ve just had the best winter we’ve had in seven years,” she said.
“We have certainly seen an increase in listings, much more than what we would normally have at this time of the year – but they’re selling as quickly as we list them.
“Buyers are so motivated by the weather, more than what you’d imagine – and we’ve hardly had a winter this year. I think that’s made a difference.”
She cited a recent sale at 518 Cavendish Road, Coorparoo; a three-bedroom, one-bathroom postwar home that sold for $880,000.
“Achieving a price like that shows how well houses can sell in winter,” she said.
Jordan Gravestein, of McGrath Balmoral, attributed the early onset of activity to the long and protracted federal election.
“Before and during the election, many people – especially sellers – were sitting on their hands waiting to see what the result would be,” he said.
“It was such a drawn-out process that the market was certainly affected for a number of months. As soon as the result was decided, there was that rush of new properties put on the market.
“Spring has certainly come early this year; people who’ve been waiting to buy or sell all year don’t want to wait any longer … confidence has certainly returned.”
Cameron Crouch, of Ray White Sherwood, said his medium-sized office had a record month in July, listing 35 properties during that month alone.
“Yes, spring has certainly come early here. Because a of lot of our sellers had to wait a long time for the election to wrap up, they’re not waiting until spring to sell their property – they’re striking while the iron’s hot.”
Mr Crouch said he makes a habit of advising his clients not to wait until spring.
“It’s always a very popular time for people to sell but it’s a bit of an urban myth that they’re going to achieve a better price at that time,” he said.
“In the lead-up to spring there’s far less competition from other properties. Less choice for the buyers means a better result for our vendors.”
Judi O’Dea, of Space Paddington, said sellers appeared to be taking advantage of current market conditions.
“Sellers are very aware of when it’s a good time to sell in their area – and around Paddington, Ashgrove, Bardon and Auchenflower it is a very strong market,” she said.
“At 19 Jackson Street Indooroopilly – a divine family home – I had 23 groups through my first open inspection and another 11 groups through at 12.30pm during the week. That is phenomenal,” she said.
“We’ve had a very strong year but things have noticeably stepped up since the election finished … I expect that trend to continue to strengthen throughout spring and summer.”
James Curtain, of Place Bulimba, said there was a certain group of sellers who were quite strategic about marketing their properties.
“While some sellers were in a holding pattern during the election by circumstance, there are a group of sellers who are very savvy … they’ve waited for this specific time quite intentionally,” he said.
And while some vendors are reticent to sell during winter because there are not as many buyers, Mr Curtain said he believed more properties on the market brought buyers into the market.
Date: 29th August 2016
Author: Ellen Lutton