Prestigious properties are on the move up

 

Seems that Brisbane’s prestige residential market might be sparking an interest with an increasing number of property buyers at the moment, with recent statistics showing that the sale of houses and units worth between $1m and $2m in the Brisbane area is on the rise.

 

 

According to a recent editorial in The Australian, figures supplied to The Weekend Australian (by CoreLogic RP Data) show that houses and units worth between $1m and $2m rose from 1.8 per cent to 2.1 per cent of all sales.

 

 

Meanwhile, the $2m-plus price bracket remained the same as last year at 0.9 per cent of the market from 326 sales – the same as last year.

 

 

“2017 could be an exceptional year if the stockmarket is strong and we don’t see the jumping at shadows we did at the end of the year,” he says.

 

“If you look at the value that is offered in that $2m­$3m range, compared to Sydney and Melbourne, Brisbane is phenomenal value”.

 

 

Principal of HS Brisbane Property, Hannah Schuhmann agrees with Gross, saying that she feels the appeal in Brisbane’s CBD property is incomparable with other states, particularly when it comes to what you get for your money.

 

 

“Brisbane offers a similar cosmopolitan lifestyle to Victoria and Sydney but for a fraction of the cost – especially when looking at buying a unit in the heart of the CBD.

 

Schuhmann says she has also recently noticed an increase in the number of enquiries to purchase property in Brisbane within the $1m to $2m range.”

 

“What has surprised me more than anything though is the increasing number of people that have over $1m to spend,” says Schuhmann.

 

Schuhmann says that the interest is not just coming from local buyers.

 

 

“We are seeing a vast increase in the number of enquiries coming from Sydney investors looking to purchase property between $1m and $2m in Brisbane.”

 

Like Schuhmann, it is the great hope of the Queensland property industry that more and more southerners realise the value in Brisbane’s year-round sunny climate and relaxed way of life.

 

Many of whom would realistically be able to purchase a multi-million-dollar house close to the city and still have change from the sale of their Sydney mansion to pour into their retirement fund.

 

 

At HSBP we have worked with many sellers in the CBD that fall within the $1m and $2m price range in the past, and achieved great outcomes.

 

 

For more information or to book an appointment, contact the team at HSBP on 0419 782 133.

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