Your Property News December 2023

Is the Brisbane property market the goose that laid the golden egg?

Whilst we might not be seeing a daily golden egg delivered, our market has delivered month on month. Property prices in Brisbane during 2023, both houses and units, have increased. The CoreLogic home value index shows the Brisbane market increased 11% year on year. The local and national home value index year on year has not retreated even with twelve interest rate rises.

Leading property commentators are predicting the Brisbane (and Perth) markets to see growth between 5 – 9% in 2024. This is predominantly driven by a shortage of property. Growth may have been higher however the recent interest rates rises have reduced a borrower’s lending capability. With a slowing economy, some commentators are starting to factor in an interest rate decrease in 2024.

Our local property market hasn’t slowed. November has been a very strong month reflecting the yearly trend that the highest prices are achieved in the Brisbane housing market are in November. We aren’t seeing any signs that the market is slowing in preparation for Christmas and the New Year period. If anything, is starting to get busier as we have time to make decisions.

Both from a sale and a rental perspective, supply is an issue. This will be a constant in 2024.

We have seen some amazing sales achieved in 2023. Yet again the predominant appetite has been for homes either recently renovated, newly built, beautifully presented, and move-in ready. This trend has become stronger in recent years with a direct correlation to how busy our lives have become, and the cost and time involved with renovating. Size of land hasn’t been a determining factor – features, function and move in ready are the drivers to home prices.

At Butler+Co we have had a very positive year. We have been reviewing our market in depth and will be releasing our yearly publication – Our Property Market 2023 in late January. If you’d like to receive a copy – please email or call and we will forward our analysis of our property market as compared to last year and 5 years ago.

We are grateful and humbled by your continued support. A sincere thank you to all who have entrusted their sale, manage their investment or who have bought with us during the year. We could not do what we love without YOU. Thank you. We look forward to 2024 and working with you to achieve your property goals.

Is it time for your next move? Use our experience and expertise in the local market to guide you out of your current home and into your new home. If you are looking to buy, sell or start researching the market during the festive season, we would love to help. We are working. Our door is open. You are our focus.

Butler+Co is your trusted and experienced property specialist.

Amanda Butler – Principal – 0438 767 439 – [email protected]

In our Clients words

Amanda Butler has a reputation for tailored personal service. For this reason we chose her to handle our entire downsizing process. This involved buying an apartment and selling our 105-year-old house, both in Ascot.
The whole experience was carefully and personally handled. Communicating with Amanda, both regarding our needs and wishes, as well as the necessary formalities was a pleasure. The outcome was a complete success – we confidently recommend Amanda to anyone with similar needs.

John and Jan, Ascot