Brisbane Sales Market Update

This is a very interesting subject at the moment with a lot of concepts and thoughts from the industry saying that now is a terrible time to sell.  It is hard to say because most of the sales data we see from the backend of Price Finder and from online is from 2-3 months ago. The only information I can talk about right now is our most recent sale, 13/25 Dudley Street, Highgate Hill.

We listed this Highgate Hill property for sale less than 3 weeks ago with the following marketing campaign:

  • Professional photos and script;
  • Highlighted property listing on Realestate.com.au; and
  • Matterport 3D Tour.

We did not put a “For Sale” sign outside the property because we knew there would be less people travelling around the area.

Due to the current restrictions and COVID-19 situation, we had to do viewings of the property by private inspection only.

Within the first week we had 4 offers.  We had 4 buyers who inspected the property in person and 2 buyers viewing the property virtually as they were from interstate. We listed the property at $410,000 which was the price we appraised a few months ago.  We ended up achieving a sales price above the advertised sales price.

So while in theory most people are saying it’s not a great time to sell properties, we are yet to see the true affects of COVID-19 in the market.  From all indications of what we can see, while there are more restrictions regarding selling properties, nothing has changed in relation to selling and listing a property except the way we do business.  Hope this helps you make up your mind if you are thinking of selling, feel free to contact us and we would be happy to give you a no-obligation appraisal.

April 2020