Where is Brisbane’s Luxury Property Market Heading in 2024?

As we put the finishing touches on the year that was 2023, we’ve gathered to reflect on the amazing year that was. With so many successful sales and happy customers, this year defied expectations as Brisbane’s real estate market returned to record-breaking strength.

But, the hustle never stops here at team Oliver Jonker! With a new year comes plenty of new opportunities, as well as plenty of changes to our local prestige property market. Here’s what we can expect to come.

Prices Continue to Soar

If you’re looking to sell your home in the New Year, you’re in luck! The Big Four Banks have predicted that the prices of Brisbane houses are to see a 1- 6.5% increase in price in 2024. All signs are pointing towards a renewed appetite for prestige properties amongst luxury buyers, demonstrating that the market is poised for successful sales in the near future. 

Competition will Remain Fierce

With the resurgence of interstate migration, economic activity, and buyer confidence in late 2023, we can anticipate that there will be no shortage of eager buyers in the next year. Intense competition is likely to drive property prices even higher.

Inner-City Units Continue to Shine

This year, we saw a renewed demand for inner-city units as buyer lifestyles shifted towards convenience and proximity to trendy food, beverage and retail outlets; and although softening, we don’t see this trend going anywhere anytime soon. As investors continue to bank on the 2033 Olympics, we can expect to see this demand continue – especially with ongoing infrastructural developments in areas such as Hamilton and Ascot. 

Auctions Dominate

We’ve seen an uptake in auction clearance rates in late 2023 Brisbane-wide – and we predict that this buyer trend will continue into the new year. Why is this method so great for sellers of luxury homes? We give you a few reasons here. 

Hit the Ground Running

With fantastic results seen in November, we don’t expect that it will take long for the property market to relaunch following Christmas. Economists and experts are also anticipating sales to kickstart straight into the new year. 

That being said, the sooner you get into contact with us in regards to selling your home, the better! For a head-start on maximising your property’s value, let’s get the ball rolling! Contact us today here.