Brisbane's holding up better than most, but the gap is narrowing
Property commentator Mark Bouris recently sat down with Tim Lawless, Research Director at Cotality, and the read was clear. The capitals are no longer moving as one.
Much of it centred on the federal budget and what it's done to confidence. Lawless's view is that sentiment has shifted faster than the official data can capture, with investors reassessing since. His long-standing point still holds: sentiment and housing activity move almost in lockstep, so when confidence falls, transactions fall with it.
That's showing up unevenly. Sydney and Melbourne are now in decline, both down more than 1% in June under higher rates and thinner confidence. Brisbane is still rising, still outperforming the southern capitals, but the pace has clearly eased from where it was late last year. Stock is building, days on market are stretching, and buyers have more room to negotiate than they did six months ago.
For a property owner, that cuts two ways. Values in our pocket are still positive and interstate and investor interest in Brisbane is genuine, but the easy tailwind is fading. A four bedroom on Alma Street sold for $2.31m in June, and houses across Paddington are still moving in about a month on average. Listing while the market is still in the black, and before spring adds another wave of competing homes, means presenting to a smaller field.
Glynis, Lucas and I are having real conversations with locals every week, so while there's plenty of media noise, the number that matters is the one on your place, today. If the last few months have shifted where you thought your home sat, let's get you a current figure. Reply here or call on 0478 99 88 11 and we'll sort a time.
Looking forward to connecting with you soon!
Felicity Austin