QLD MARKET OVERVIEW
QUEENSLAND
QLD Market Overview with Simon & Courtney Caulfield
As we approach the traditional spring selling season for residential property, what’s your take on current sentiment amongst buyers and sellers. We are seeing multiple offers on certain types of properties, buyers don’t want to miss out on good quality a grade stock. This is the same with a grade development sites, which are few and far between. Buyers at the entry level of the market have downgraded in price based on interest rates but there are still more buyers than there are properties. Interest rate hikes have challenged the market over the past twelve months but with rates now entering a period of stabilisation, how are you finding the response has been from vendors. Our vendors that are investors in the lower end of the residential market who aren’t getting the return are exiting and owner occupiers are paying a premium for the properties. Reflecting on prevailing market dynamics, which properties are most in-demand from buyers currently. Currently the products we are seeing most in demand are larger high quality apartments and also entry level affordable dwellings for owner occupiers. In terms of your local market, what has been the appetite from buyers for new projects and whatare the fundamentals that end-users are looking for in these developments. Currently we are selling Moray House in New Farm, setting the benchmark for pricing on the riverfront in Brisbane. Local buyers are the predominate demographic in the sense that they value the location, views and sqm size of the residence. Off the back of our sale of residence 9/49 Maxwell Street for over $12m, setting a new price per sqm for a completed riverfront apartment, we have seen more interest than ever from locals looking for spacious house sized units, high quality finishes, views and great carparking. Privacy / security and the limited number of residences in the complex is at the forefront of the buyers mind.
SIMON CAULFIELD Place – Kangaroo Point Partner & Lead Agent
COURTNEY CAULFIELD Place – Kangaroo Point Partner & Lead Agent
84 – September / October 2023
Powered by FlippingBook