Brisbane Luxury Real Estate Update - Jason Adcock

BRISBANE LUXURY REAL ESTATE UPDATE

Many financial advisors and media commentators are asking what we (as agents) are finding on the ground post federal election. Without a doubt, enquiry on all properties over $2m have seen a 30-40% increase in direct enquiry with inspection numbers also increasing about 15-20%.

In the past few weeks, buyer confidence is strengthening with new entrants from interstate particularly from Sydney and Melbourne. Those buyers are adamant our luxury selection of homes, particularly riverfront, are still tremendous value for the size of land, location, proximity to the CBD and dwelling attributes.

Our mid-week Wednesday open homes are becoming very popular with buyers looking to view new listings before the Saturday rush. This is happening across all price points and a very clear projection that demand is on the rise.


41 Brisbane Corso in Fairfield is our feature property of the month. This stunning home sitting on 1046m2 of absolute river frontage is listed at $3,295,000. Some of the most spectacular Brisbane River vistas are on offer with a kaleidoscope of picture settings throughout all times of the day and night. Master built in 2006, this architectural design is brilliant in its simplicity and functionality. Ultra-modern in style with outstanding indoor and outdoor living options. A must inspect for all riverfront buyers.

Last week, we had another interest rate cut from the RBA. The cash rate is now at a historic low of 1.25%. The last rate reduction was back in August 2016. This combined with the reports that financial institutions are loosening their ‘lending belts’ should help those looking to upgrade or finally enter the luxury property market after a few years of indecision.

Over the past 10 days, our office has received multiple contract offers up to $4m and this is encouraging on so many levels. Stock levels are still low with many sellers opting to capitalise now before the traditional spring rush. This is a smart tactic. So we do continue to encourage all future sellers to make contact as record prices are achieved more so in winter due to the laws of supply and demand. Many interstate buyers are out shopping now so they can be in and settled prior to the school holidays.

Our property selection and recent sales can be found at www.adcockprestige.com and we encourage all future sellers to get in touch with either Jason or myself to capitalise on what is an exciting period ahead. Stronger gains are finally being achieved and quality renovations are being rewarded with days on market seem to be reducing across many suburbs.

We launched our new e-Book this week, “Above Market Value”. The quintessential (22-page) #1 Bestseller for inside real estate secrets and selling tips. Anybody is welcome to this free book courtesy of Adcock Prestige.

Thank you for taking the time to spend a few minutes with Jason Adcock

Jason Adcock - Prestige Property Specialist

Jason Adcock is the Principal of Adcock Prestige. He has been recognised by his peers for his energetic, dynamic approach to the Brisbane Prestige Property market and applauded for… View full profile