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
Luke O’Kelly is a real estate agent and auction specialist at Ray White West End, focused on property sales in West End and Highgate Hill. Through Luke O’Kelly Ray White West End, he helps property owners achieve strong results using an auction-led strategy designed to create competition and maximise sale prices. With deep local market knowledge and a hands-on approach, Luke shares insights, sales strategies and suburb updates to help sellers make informed decisions and achieve the best possible outcome.