October marked another intriguing month for Australia’s property markets, with some cities, including Sydney, experiencing slight declines in home values. While the national growth rate eased to 0.3%, Brisbane maintained a positive trend, showcasing resilience amidst a wider market cooldown. Here’s a closer look at Brisbane’s unique position in the evolving real estate landscape and what it means for buyers and sellers alike.
Brisbane’s Steady Growth
In October, Brisbane recorded a modest gain of 0.7% in home values, continuing its positive trend, though at a slightly slower pace than previous months. This monthly growth may seem minor, but it stands out in a national landscape where cities like Sydney and Melbourne saw slight declines. Brisbane’s housing market remains bolstered by lower-than-average stock levels, which continue to favour sellers and contribute to price stability.
With housing affordability remaining a key factor, Brisbane’s steadiness in values offers a relative advantage, especially as many Australians seek cost-effective options. Lower quartile properties—often more affordable—are performing better than pricier segments, attracting first-home buyers and investors to Brisbane.
Market Listings and Stock Levels
Across Australia, rising stock levels have contributed to easing conditions in cities like Sydney and Melbourne, where increased inventory provides buyers with more options and reduces urgency. Sydney and Melbourne’s listings are now over 13% higher than the five-year average, leading to a buyer’s market in those areas. However, Brisbane’s situation is different.
In Brisbane, listings remain significantly below the five-year average, down by more than 20%, creating a seller’s market. This low inventory continues to limit choices for buyers, sustaining competition and supporting property values. Nevertheless, as spring progresses and listings gradually increase, buyers may gain a slight edge in negotiations, though sellers are still generally favoured.
Auction and Private Treaty Trends
National auction clearance rates fell below 60% in October, while private treaty sales showed extended time-on-market figures. Brisbane, however, continues to see stronger clearance rates and shorter selling periods compared to larger markets. This difference signals that, while broader market conditions may be loosening, Brisbane’s market remains more competitive, particularly for well-located and affordable properties.
The stability in Brisbane’s auction market reflects the city’s ongoing demand, especially as interstate migration drives interest. With fewer listings and consistent buyer interest, Brisbane sellers enjoy a balanced market, even as broader national trends shift toward a slowdown.
What’s Next for Brisbane’s Property Market?
While cities like Sydney and Melbourne adjust to increased inventory and cooling conditions, Brisbane’s property market continues to show resilience. Low stock levels, steady price growth, and competitive selling conditions suggest that Brisbane remains a prime market for both buyers and sellers. However, with potential interest rate cuts on the horizon, now may be the ideal time to act, as conditions could shift.
Curious about what these trends mean for you? Contact us today to explore your options in Brisbane’s dynamic real estate market. Whether buying or selling, our team is here to guide you through every step.
