The best time to buy

When is the best time to buy? It’s one of the most common questions, with the simplest of answers. The best time to buy is now.

CoreLogic data released this week revealed the number of million-dollar suburbs nationally has surged 143% across the past five years, with Brisbane recording the largest net change over the past year.

Brissie has also overtaken Canberra as the second most expensive house market after Sydney, with median prices rising nearly $40,000 to hit $1.1 million over the three months to September, according to Domain.

One might assume these figures are irrelevant for our high-net-worth market ($5m+), but the ripple effect is undoubtedly being felt at that pointy end, where we’re seeing a considerable increase in sales volume.

The bar is continuously being raised, and there’s no ceiling in sight. So when is the right time to buy? Now.

Before I leave you for the week, a shout out to my Collective team who last weekend sold more than $47.5 million under the hammer at our regular monthly auction event.

It was a full house at The Calile, where 35 properties were on offer, from units to riverfront estates. I was extremely pleased to sell 6 Herbert St, New Farm for $5.625 million, with five registered bidders and four active bidders.

The message from that day: the buyers are there if you’re ready to sell.

I hope you enjoy the read.

Matt Lancashire