Your Property News April 2022

This time last year, the run up to the Easter holidays was anything but normal.

Australia’s property market was in a state of desperate frenzy. Auction clearance rates along the eastern seaboard were at record levels.

Every single capital city was being flooded by new listings as vendors jumped at the chance to sell in a booming market – but even still, the supply of property for sale was no match for the insatiable level of buyer demand. FOMO was pushing prices to unthinkable heights.

Agents were so busy they were booking auctions back-to-back on Saturdays and Sundays just to cope with the level of demand from buyers and sellers, with some reporting they were booked out for auctions until July.

A run of public holidays and cooler winter months were on the horizon, but instead of slowing down, the property market was preparing itself for a “second spring” to cope with the extraordinary momentum sweeping the nation’s property markets.

The lead up to Easter 2022 is looking very different.

This time last year Brisbane’s property market was in a frenzy. The number of new property listings was increasing prior to Easter but the competition from buyers was so fierce it was putting some home owners off listing at all.

Brisbane was only just hitting its stride, though, and the momentum that swept across the city in early 2021 gathered pace as the year unfolded, until the river city closed out the year as Australia’s strongest property market.

But it’s been a tumultuous start to 2022 for Brisbane as a city. While the floods acted as a circuit breaker to what was a white-hot property market, the data shows that the market is still strong going into Easter, just at a less frenzied rate.

New listings declined by 8 per cent last week, which means there are fewer properties for buyers to choose from. Fewer properties mean more competition.

“Overall the Brisbane market remains competitive,” Dr Powell said. “There are particular areas in Brisbane that are seeing a rising interest in the lead up to Easter, with the average check-ins per open home increasing over the past weekend, perhaps indicating where we will see stronger levels of buyer competition.” Domain – Ellen Luton – April 5

If you are looking to buy, invest or sell, our door is always open – You are our focus. Wishing you and your family a hippity hoppity Easter.

Amanda
Amanda Butler – Principal
0438 767 439