RECENTLY I was involved with the auctioning of the symbolic first tray of mangoes at the Brisbane Markets.
I’ve been calling this auction for the past ten years and I’ve watched the generous men and women from the markets raise nearly $1 million for Queensland charities, this year for MnD and Me and Diabetes Queensland.
The sale of these mangoes gives me a different view of the economy each year. At its peak we sold them for $76,000, this year it was $13,000.
We are also still seeing sections of the property market moving at significantly different speeds.
The Brisbane apartment market is waking up and buyers are back in the market. We have been contacted by three separate buyers agents this week looking for apartments in Brisbane for interstate clients.
This was unheard of last year.
The prestige market is now wide awake and there have been a number of sales for more than $5 million with a lot more listings hitting realestate.com.au each week.
However, there are still parts of the market showing exceptional value. Our mid-range market is strong value – think the houses above your suburb’s median price but below the top priced homes in your area.
These homes are representing great value and history will likely reflect that this soft patch was the time to buy and upgrade.
We are now about to enter the hottest annual part of the property cycle. The value in Brisbane will definitely bring interstate buyers into our market and this will again mean property prices will shift another gear and create a new stream in the local property market.
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