Search:



Median house prices to soar

Posted: 4pm 13 Dec 2021

Moreton Bay’s booming real estate market is showing no signs of slowing down, with agents expecting to see more competition from interstate and international buyers now that the borders have reopened. 

They say property prices will continue to soar over the coming year, with demand outweighing supply.

LJ Hooker Real Estate Albany Creek principal Jason Chandler tips Moreton Bay’s median house price to rise by thousands of dollars throughout the coming months.

“I predict there going to be a 10 per cent rise in house prices over the coming year because we are already seeing an influx of buyers from the local area, as well as buyers from the southern states and from overseas,” he says.

“People are wanting to take advantage of the historically low interest rates which makes it more affordable to buy than rent.

“I am seeing upwards of 50 people at open homes and multiple offers on newly listed prices, with some homes receiving around 20 offers after their first viewing.

“The properties then have the sold signs going up about a week later.

“I have never seen anything like this in my 25 years' experience in the industry.”

Growth figures 

According to data released by the Real Estate Institute of Queensland (REIQ), Moreton Bay’s sales activity has strengthened, with a 5.9 per cent rise in the last quarter and a 39 per cent rise in the year.

Median house prices for the region are also up 6.9 per cent and 10.3 per cent over the quarter and year respectively, while the median days on market is down to 17 days.

David Deane Real Estate Strathpine sales director Mark Rumsey says the market is attracting a variety of buyers who are keen to “cash in their chips”.

“We are getting a real cross section of buyers, including first home buyers, locals who are being forced out of Brisbane’s inner-city suburbs, buyers from large cities like Sydney and Melbourne, as well as investors who all want to get in on the action and take advantage of Moreton Bay’s housing affordability,” he says.

“Borders opening mean more buyers, and we are only going to see more pressure and conditions made even tougher because stock levels are historically low for what we currently need.

“This boom has been long overdue for Brisbane, making it a very unique time for Queensland.”

Share

Trending

Youngs Crossing upgrade reverts to Option 1

Significant fig trees protected by revised design…

Region’s newest health hub coming to Deception Bay

A new health care hub, which will include an indoor swimming pool, will be built at Deception Bay.…

More you might like:

Trending

Local News   •   25-1-2022  •   Ashleigh Howarth

Overseas travellers’ return a boost for region

The arrival of fully vaccinated international travellers is good news for Moreton Bay Region’s economy, according to one local Chamber of Commerce. Find out why here …

Local News   •   25-1-2022  •   Kylie Knight

Race on for J2J early birds

Early bird registrations close soon for Queensland’s longest running fun run – the Jetty 2 Jetty Fun Run.…

Local News   •   24-1-2022  •   Kylie Knight

Treasurer tours Dolphins’ facilities

Federal Treasurer Josh Frydenberg has toured the Dolphins’ facilities at Redcliffe today, seeing firsthand how the government’s $8 million in funding has helped shape the newest NRL club’s base.…

Local News   •   21-1-2022  •   Ashleigh Howarth

Club to host its biggest ever Aussie Day event

Families are invited to attend this upcoming fun day, which will feature a sausage sizzle, barefoot bowls and more. Find out where here …

Local News   •   21-1-2022  •   Ashleigh Howarth

Hi-tech mecca for golfers

A new entertainment precinct that features high-tech golf simulators, an 18-hole putt putt course, kitchen and bar has opened in the region. Find out where you can tee off here…

Local News   •   20-1-2022  •   Ashleigh Howarth

Winner encourages others to enter prestigious art competition

Artist BJ Murphy took out the coveted prize on his first entry. Now he is encouraging others to submit their favourite pieces. Find out more here …

Your free local community newspaper, home delivered fortnightly.

Read Latest Edition

Close