Brisbane is emerging as one of the best places for shoppers whose lifestyles have changed amid the COVID-19 pandemic, with auction closeout rates reaching almost 100%, expert says immovable.
Peter Burgin, chief auctioneer at Palace Real Estate, said weekly auction rates in the city are as high as 98%, driven by buyers wanting to move to Queensland.
"We are now seeing unprecedented results as demand increases. Brisbane's market was functioning well before COVID-19, but the pandemic has seen many reassess their lifestyles, which has led to such strong growth. "he said in a report in The Real Estate Conversation.
Burgin said the increased activity came from potential buyers who are targeting the inner city suburbs. There is also increased demand for homes in the high-end segment of the market, with values ??ranging from $ 1 million to $ 2 million.
"It's Brisbane time. It's a great place that meets all the amenities of a lifestyle, has a great climate and enough stimulation to attract those moving from other cities," said he declared.
Figures from CoreLogic show the median home value in Brisbane rose 1.5% to $ 535,618 in February.
John McGrath, executive director of McGrath Estate Agents, said house values ??in Queensland, particularly Brisbane, have shown resilience amid the pandemic.
"The pandemic has made people reevaluate their lives and that alone has convinced many people to move north to enjoy the best lifestyle in Australia," he said.
Top suburbs:
werribee
,
berala
,
campsie
,
fresh water
,
queens park
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