Ray Whites Chief Economist Nerida Conisbee, recently shared an article titled the The Housing Reshuffle, highlighting the dramatic shift in Australia’s property hierarchy.
Figures over the past five years reveal a clear shift in lifestyle preferences, with the average price of certain major cities like Melbourne moving down several ranks, while previously underrated areas such as the Sunshine Coast, Gold Coast and Brisbane have benefitted from a dramatic increase in popularity and value. Areas once considered budget-friendly locations have evolved into some of the most sought-after postcodes, requiring handsome deposits to get a foot in the door
If someone had told me a decade ago when I first started working in real estate that I would one day sell a completely original 2 bedroom unit along Golden Four Drive for $850,000, I would have lost my mind. But here we are - and the numbers speak for themselves.
As lifestyle-led locations climb the property ranks, demand continues to shift away from traditional capital city strongholds. Adding more fuel to the fire, new government incentives like Queensland’s recently introduced Boost to Buy scheme are expected to further heat up the sub-$1 million market, especially for first home buyers.
While it’s great news for those trying to get a foot in the door, it also means increased competition and in some cases, rising prices. So, whether you're planning your next move or just curious about your property's value in today’s reshuffled market, now's a great time to touch base.
As always, I’m here to help
