Brisbane Property Update – Mid-Year Check-In

2024 has flown right by – how are we already half-way through the year?

From selling sleek townhouses one week to charming Queenslanders the next, our diverse experiences as prestige real estate agents demonstrate the dynamic nature of the market so far this year. If you’re wondering which direction we’re headed for the remainder of 2024, read on for a couple of insights from the Oliver Jonker team.

Strong Price Growth Continues

We’re not kidding when we say that Brisbane’s property market has major potential for sustained growth over the next few years. New data from CoreLogic has just confirmed that we’re now coming up at a close second for the priciest city in Australia – just behind Sydney – with a median house value of $937,479.

With prices soaring by 13.1% in Brisbane since the start of 2023, there’s no doubt that the prestige property boom is thriving. What does this tell us about the future of real estate for our city? We can confidently anticipate that demand isn’t going anywhere, especially for high-end properties. If you’re a luxury home owner, it’s clear that there’s no time like the present to capitalise on your investment property. 

While Demand is High – Availability is at an All Time Low

CoreLogic’s Research Director, Tim Lawless, revealed that the number of properties available for sale in Brisbane is -34% below average – a clear testament to just how much Brisbane real-estate is in demand this year. This supply shortage is what is underscoring the competitive nature of the market, fuelling bidding wars and driving up prices.

In particular, we’ve observed this increased demand within inner and middle ring lifestyle suburbs, with buyers hungry for detached homes at an all-time high. Townhouses in these areas, including Ascot, Clayfield, and Hendra, are also at a close second – with the buyer trend of luxury apartments beginning to be put on the back-burner. 

Let’s Finish the Year on a High Note!

With the end of 2024 in-sight, we couldn’t think of a better way for you to end your year than with a successful sale. All signs are pointing to a thriving market in Brisbane for the next six months – so get in touch with the Oliver Jonker team today to learn how we can help you to reach your property goals.