August-September 2017 Newsletter
Hello and a warm welcome to this month’s newsletter on the first day of Spring. It seems to have arrived early in Queensland, with perfect sunny days and 25℃ maximum temperatures. Along with the change of season comes an abundance of economic data. The latest information by CoreLogic released today shows national housing conditions were steady during August, with capital city values edging 0.1% higher, while regional dwelling values slipped 0.2% lower. According to head of research Tim Lawless, this steady result provides evidence that the housing market has moved through its peak growth phase.
In other CoreLogic news, auction activity increased across the combined capital cities over the last week, with 2,239 homes taken to auction – the largest number of auctions held since the first week of June. The larger volume of auctions returned a preliminary auction clearance rate of 71.1 per cent, up from the previous week. A high clearance rate of 75-80% per cent is considered a ‘hot’ market, as buyer demand is high and available housing stock is low – in other words a market that favours sellers. A low clearance rate of around 60 per cent indicates low auction interest and declining house prices – a buyer’s market. It should be remembered that while auction clearance rates gauge property market sentiment, it is only one of many indicators, as external factors such as the weather and sporting events also influence auction numbers (Enzo Raimondo, CEO Realestateview).
With more properties to choose from, John McGrath suggests that spring sellers would be wise to get in as early as September-October to avoid competition from the traditionally high-volume month of November. So if you are thinking of listing your property with us for sale, the message is do it sooner rather than later to beat the pre-Christmas rush. Also, for the month of September, if you transfer your property management to us or refer a friend, you can earn the cash equivalent of ONE MONTH’S rental income for each new listing!
This month we also look at ‘build-to-rent’ as a potential solution for the housing affordability issue, and the role of government policy in widening the generational gap in home ownership. Properties featured this month include 34 Hows Road Nundah, Oasis 1 at Wooloowin, Ozone Apartments at popular Mitchelton, and Dunkirk Place Apartments at neighbouring Gaythorne.
To find out what is on this month in the River City, go to Brisbane Industry Toolbox – a comprehensive guide to Queensland’s capital. Here on these pages you’ll find an inspiring collection of places to explore in and around Brisbane – from the natural pleasures of parklands to the urban appeal of art galleries, wining and dining, urban village hotspots, nights out on the town, boutique hotels, shopping, cinemas, and everything in between.
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