Yes at +2% for January you would be liking the odds of getting to 2.5%, it's been a strong start to the year, last couple of weeks have been quieter which is good as it's no fun competing against eager home buyers.
Every house for sale in Albany Creek that i drive past since December gets a sold sticker within a month.
Looking on Houses for sale yesterday, comparable houses to ours are now selling for about the same they were PRE that psycho boom for a few months prior to GFC crash - Early 2008 prices.
The cheapies in Everton Park are snapped up the moment they go on the market. A large 70s home in Dargie St overlooking the city sold in Dec for $560K. I suspect it was worth closer to $700K before the prices dropped. No thanks to Feb API magazine, now everyone will want a house in my favourite development potential suburb.
2bed units in New Farm, Valley, Bowen Hills are selling very quickly at the moment too.. Something I thought would never happen considering the amount recently built and continue to be built. Fingers crossed there is another IR drop next month to increase buyer activity even more when selling my unit
I just had a follow up call from an agent in Bulimba saying anything under $700K is showing strong movement and selling well with plenty of interest and competition. The house appraised was last valued at $670K and this agent appraised recently at "mid $500K". I asked if we could reach $600K and was told it is possible. Comparables sent ranged from $505K to $555K but none really are directly comparable. Of course she wanted the listing so would say whatever it took to get us to sign, so I take it all with a grain of salt.
Rental appraisal was $450 to $490. We were already getting $460 just increased to $470 when we allowed tenant to break the lease. Another PM gave rental appraisal $550 to $650 .
It's hard to know what this market is doing without actually putting something on the market. We just tried that with a more expensive house which looked like we would lose $200K from the last valuation of $1.1M.
So we hold them for now and see where the market goes from here.
Is anyone able to fill me in on what's going on around Kedron? Prices have well and truly jumped up on anything that was previously sub 600k. Don't think it was the new LEP (bit of a delay if it was) and can't find anything else to put it down to.