There was a strong start to the year within the housing market, with sales volumes in January slightly higher than they were last year.
Demand held firm over the month also, with the number of highly engaged buyers per listing reaching a record high. At the same time, online websites such as realestate.com.au witnessed a seasonal increase in days on-site, although properties continue to sell faster than they did a year ago.
Although property prices continued to grow in January, the rate at which it’s growing has further slowed. This is particularly noticeable in Sydney, Melbourne and Perth.
It’s predicted over the coming months that new listings remain elevated, with vendors making up for the lost opportunities to list during last year’s lockdowns. With interest rate increases expected either later this year or early next, this is predicted to create some urgency for buyers and sellers.
To check out the current housing market in QLD, check it out here.