February 2024 proved to be a busy month, with sellers on the market seeing an increase in open home attendance, up over 20% on the same time last year. The increased buyer activity and associated competition rewarded sellers with continued market best pricing.
Brisbane saw a month on month increase in pricing of 0.05% bringing the annual increase to 9%. Brisbane apartments have performed slightly better than houses with an annual increase of 9.52%
Loan approvals continue to rise, with a 33% increase in loan pre-approvals, on the same time last year. Preapprovals are an indication of future buyer activity and as new properties to market remain low; buyers are forced to compete and pay market’s best price to secure their new open or investment.
Average West End Sale Prices February 2024
1 bed apartment $450,000
2 bed apartment$675,000
3 bed apartment $1,250,000
3 bed house $1,500,000
4 bed house $1,765,000
West End Apartment Price Data – REA 29/2/24
West End House Price Data – REA 29/2/24
Open For Inspection Data – RW 29/2/24
Loan Approval Data – RW 29/2/24
