As always, it’s hard to believe Christmas is right around the corner and at the end of two COVID-crowded years, I’m definitely keen for some R&R. But for real estate, it hasn’t all been bad news with property now giving much better returns than cryptocurrency or stocks.
Carina has experienced incredibly strong growth across houses, townhouses and apartments. According to realestate.com.au, Carina is now a high demand market with a median sale price of $830,000 for homes and $530,000 for units. With the Brisbane property market forecast for strong growth in 2021-22, I doubt there will be time for a slow down in price growth in the next 6 months.
The festive season is not seeing a slowdown of prices or auction numbers either. CoreLogic reported that in the week commencing November 22, Australia’s combined capital cities recorded their busiest auction weeks since CoreLogic records began in 2008. In Brisbane alone, 256 auctions were held with a 74.5% preliminary clearance rate and a $1.28 million median price.
Stock market values have also enjoyed a sharp increase in 2021 with the ASX200 jumping by 11.43%. But while interest rates have remained at a record low of 0.1% for 12 months, some banks are starting to push up their interest rates, which may well effect market conditions.
But Remy’s Real Estate can still boast number one agency status in the local area. We’ve sold more properties than the second and third agency offices combined in our suburb. You read that right – according to realestate.com.au’s latest figures, Remy’s has sold 42 properties (just in Carina) in the past year compared to number one and two agencies’ 16 and 15 sales respectively.
2022 property expectations
From December 17 or possibly earlier, interstate buyers are expected to flock to the Queensland market. This change almost guarantees the first and second quarter of 2022 will follow the lead of 2021 overall. It’s true the last months of 2021 have seen some decline in the number of frenzied buyers we’re seeing but we are still talking to very serious buyers paying great prices in hope to secure a Queensland home. In short, with next year looking just as good as 2021 (at least for the first part of it), there’s never been a better opportunity to enjoy fantastic property results!
Also, I believe the best property possibilities will occur at the start of 2022. Why? As consumer confidence in wide-open international borders increases – and some of these borders have already started to tentatively unlock – the number of interstate buyers is expected to tail off towards the end of 2022. With international borders opening up for travellers, some parts of a deposit may very well be spent on a week in Bali!
Carina has enjoyed highly unprecedented and unexpected growth this year. In 2020, properties that were selling around $650,000-$700,000 are now a very rare find! You’d now be hard-pressed to find anything below $1 million.
One reason for this is Carina’s ultra-convenient location. Drive 20 minutes to the CBD or head to neighbouring Carindale’s Westfield Shopping Centre. Carina also includes four schools and plenty of sports centres, is 10 minutes from Brisbane’s northside via the M1 Motorway and super close to the Gateway Motorway.
So, it’s hardly surprising that Carina has enjoyed fantastic sales results recently. In a perfect example of the suburb’s incredible growth and price points, our team sold a post-war two-bedroom knockdown rebuild at 11 Paget St for $1 million by our team under the hammer! The local buyer was keen to build a brand-new home and capitalise on the growth and convenience of the area.
Meanwhile, 4 Kordick St sold for $1.14 million, well above its expected what it would have most likely sold last year (approx. $700k) with a Sydney investor snapping up the older, unrenovated four-bedroom house. In another unexpectedly high sale especially for a main road property, a stylish three-bedroom townhouse with only one garage at 4/837 Old Cleveland Rd sold for $702,000 with its vendors keen to take advantage of a roaring market.
Begin again today
The impressive market could easily help you too so we encourage you to contact our office ASAP. Remy’s Real Estate is well known and appreciated for how it markets properties differently, connecting people with properties via targeted social media advertising. This advertising reaps incredible results such as those mentioned above. We also love nothing more than a fun video. After all, being a bit different while still being as fantastic as our results is what Remy’s is all about!
We can also connect people to renovating experts including tradies and stylists and help you manage this often stressful and expensive process to ensure you make the most out of your hard-earned money.
Until next time, all of the team at Remy’s wish you and your family a safe and Merry Christmas. Here’s cheers to a great New Year ahead!