It’s spring selling season, so I thought I’d run you through the form guide on what to look for this spring.
The past year saw massive disruption to the property market, driven by interest rate rises, construction cost challenges and government intervention.
Added to the buyer pool have been first-home buyers, escaping rising rents and fuelled with government stimulus. Interstate buyers are also increasing , with Queensland prices looking like Disney Dollars.
So, what’s hot?
Units have firmed as the hottest property in Brisbane after poor growth over the past decade. This has turned these previously ugly ducklings into swans.
Renovated, brand new or prestige homes are also very popular. Many buyers were romantic renovators only a few months ago but had their hearts broken by build prices or delays. This has seen people pay a premium for the security, convenience and comfort of a home they can move straight in to.
So, what’s the inside tip?
In property there is a saying “zig while they zag”. It talks to the benefit of buying the property the market is rejecting. Right now, that’s the unrenovated property. Buy one now if you can afford to hold it or to do the work yourself.
Look for a better than 400sq m block, a property that you can rent as is or with minor improvements.
For first-home buyers you should move in and live through the renovation.
It will hurt now, but in the future you will be grateful!
– Haesley Cush is an award winning auctioneer who has called more than 10,000 auctions. He co-owns Ray White The Collective and this includes Ray White New Farm, Bulimba, Toowong, Clayfield and Living Here property management in New Farm.