With the Sydney and Melbourne property markets performing strongly last year, the Brisbane property market has finally entered the next phase of the property cycle and things are looking on the up for 2014.
Sales volumes have increased, investors are back buying properties and so are home buyers who are upgrading their homes.
By now you’d know I don’t necessarily advocate buying off the plan properties as good investments , but as another sign of the strength of the market, project marketer Place reports that a total of 1,011 new apartments were sold in Brisbane in the December quarter at an average price of $546,657.
If you think about it…this adds up to almost 80 off the plan sales per week and it was the largest total number of unconditional sales since June 2002 and a 50% increase on the sales recorded in the previous quarter.
Place Projects provide the following graphic which illustrates the change in the market over the last year:
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