As property agents look into their crystal ball, confusion reigns.
At one end of the spectrum, at least one agent has hinted prices could double within 3-5 years. At the other, prices haven’t moved in eight years, so why would they start now?
One thing is consistent – all the indicators would point to a rise in prices, it’s just a matter of how much.
“Yes, in this market you can sell with a bit of a premium,” Browns Plains Real Estate principal Neil Giles said.
Leanne Smith from @realty Shailer Park said there were signs that people from southern states would take advantage of open borders.
“There’s a feeling that we are on the cusp of a boom,” she said.
“We’re seeing confidence from interstate buyers who are able to get more for their money in this market, and now with the borders open, who knows what will happen.”
One property in Shailer Park recently sold recently for $1.1 million, having been bought only 18 months ago for $870,000. The owner spent about $50,000 on renovations.
Harcourts Springwood principal Peter Mitchell said Sydney and Melbourne buyers had always been interested in Queensland, but properties were currently selling quicker, and some of them sight-unseen.
“People are doing inspections on Facetime and buying above the asking price,” Mr Mitchell said.
Valuers too have been caught by surprise, having at the start of Covid-19 predicted a 30% fall in property prices.
“Given Logan’s position and the present market characteristics there are opportunities for it to more proactively market itself as a lifestyle destination with proximity to the coast and SEQ’s employment,” UDIA Queensland CEO Kirsty Chessher-Brown said.
“In terms of other opportunities, reviewing scheme arrangements for development approvals could speed up housing delivery and particularly further activation of Logan’s structure planning would enable delivery of more housing closer to infrastructure and facilities.”
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