ASHGROVE QUARTERLY PROPERTY REPORT
Warm regards, Brigette Righton Brigette Righton Director 0407 880 006 brigette@rightonproperty.co After such historic growth over the past two years, economists say a market correction was inevitable. The question is, will the downturn continue throughout 2023 or has the market bottomed out? While it’s a little too early to call, it seems the housing market has at least peeked around the corner. Whilst the annual decline has just ticked over 10%, median house prices in Brisbane are now more-or-less flat, gaining +0.1% in March, a significant improvement on recent months. Even so, how far prices fall depends largely on where interest rates peak. The good news for homeowners and borrowers alike is that it looks as though that peak is imminent. Buyers in Brisbane are starting to enjoy more choice, despite a slower autumn selling season for new listings than last year. The total number of properties listed for sale in March was up 5.8% month-onmonth (12.1% higher than at the same time last year). Even so, choice is limited and has a way to go - the total stock available for sale remains about 30% below pre-pandemic levels. The Brisbane property market is looking especially promising for investors as rental vacancies are towards record lows, asking rents continue to increase at pace, and further demand is expected as immigration returns and the city gears up for the 2032 Olympics. If you’re considering selling your home, speaking to a top local agent is one of the best ways to get a thorough understanding of how buyers are behaving in your suburb. At the very least, it’s helpful to hear what demand is currently like for homes like yours, and to get a no-obligation appraisal of what your home might sell for in the current market. We know the market like the back of our hands and would be delighted to help you along the journey. MARKET UPDATE
TIPS FOR A SMOOTH MOVE Moving into your new home should be the exciting and easy part, right? Some people rate moving houses as one of the most stressful experiences you can go through, but if you get yourself organised in advance and keep it flexible, moving will be a breeze. Here are our top 12 tips. PRE-MOVE Sell, recycle, donate or dump all your unwanted items in advance. It’s so much easier to pack (and unpack) when you’re not taking junk with you. Book a removalist and get your hands on boxes well in advance. Removal companies get busy and you want to get the date that suits you. Note all the addressed mail you get as soon as you know you’re moving, and start advising change of address as you go. Clear your schedule for a couple of days. If you are moving mid-week, book at least two days off work if possible. Pack and label your boxes by room, and use a ranking number to help you know which should be unpacked first. Resist the temptation to pack similar items together that live in different rooms. Have plenty of ‘tools’ – you can never have enough newsprint, tape, scissors and black marker pens. Take photos of the electronic cable set-ups at the back of your TV & audio systems before pulling things apart, so reconnecting them at the new house is easy. ON THE DAY Finish packing your boxes before the removalists arrive. Have plenty of water and snacks on hand. Staying hydrated and energised is essential on moving day. It’s also a good idea to keep some cash handy for unexpected items like taxis and takeaways. Pack a suitcase of items you’ll need for the first night. You don’t want to be trawling through your boxes looking for PJs and toothbrushes. POST-MOVE Organise the collection of used boxes, either back to the box company, for recycling or sell/give away on Facebook Marketplace. Book a cleaner for the home you’re leaving the day after moving, rather than on the day to give yourself more time to clear everything out. Follow these tips and you’ll be cracking open that bottle of sparkling at the end of day to congratulate yourself on a job well done.
RECENT SALES IN ASHGROVE 62 KINNAIRD STREET, ASHGROVE SOLD $3,100,000 16 AMARINA AVENUE, ASHGROVE SOLD $2,750,000 43 HIBISCUS AVENUE, ASHGROVE SOLD $2,380,000 51 BANKSIA AVENUE, ASHGROVE SOLD $2,530,000 70 GLENLYON DRIVE, ASHGROVE SOLD $2,250,000
30 MAREEBA ROAD, ASHGROVE SOLD $3,840,000 21 KINNAIRD STREET, ASHGROVE SOLD $2,010,000 59 MAREEBA ROAD, ASHGROVE SOLD $1,700,000 227 BANKS STREET, ASHGROVE SOLD $1,410,000 24 PIDDINGTON STREET, ASHGROVE SOLD $1,545,000 58 MCLEAN PARADE, ASHGROVE SOLD $1,870,000 44 FRASERS ROAD, ASHGROVE SOLD $2,535,000 154 ASHGROVE AVENUE, ASHGROVE SOLD $1,375,000
ASHGROVE FAST FACTS Compared to five years ago, the median sales price for houses in Ashgrove has increased 46.6% which equates to a compound annual growth rate of 7.95%. SALES Lowest $775,000 Median $1,410,000 Highest $3,840,000 HOUSES Lowest $460,000 Median $516,000 Highest $672,000 UNITS LEASE STATISTICS (Rent per week) $500 Median Unit (2 Bed) $650 Median House (3 Bed) MEDIAN HOUSE SALE PRICE 2019 2020 2021 2022 2023 $1.5M 210 $1.3M 140 $1.1M 70 $900K 0 NUMBERS SOLD MEDIAN HOUSE $ HOUSES SOLD LAST QUARTER 21 UNITS SOLD LAST QUARTER 08 HOUSE MEDIAN DAYS ON MARKET 38 Source: CoreLogic RP Data 10 February - 10 May 2023
A WORD FROM OUR CLIENTS ‘SEAMLESS EXPERIENCE WITH A GREAT TEAM’ “Brigette is the go to real estate agent in Ashgrove. She has a fantastic team in Amy and Chloe, which together makes the process seamless. Over the past three months we bought a property through them and sold our old place with them. Experience as a buyer and seller was great. They are all very approachable and knowledgeable. Definitely recommended.” Daniel & Sahar Sellers of 21 Kinnaird Street, Ashgrove ‘FANTASTIC EXPERIENCE’ “Righton Property were excellent to deal with. They kept me regularly updated and enabled us to achieve a fantastic outcome. I would highly recommend them.” Liam & Bridie Sellers of 49 Moore Street, Enoggera ‘TRUSTED ADVISER’ “We appreciated the guidance and friendly chats with Brigette along the way. She and her team work seamlessly together providing the right amount of professionalism paired with honesty and warmth. We recommend Brigette and her team to her prospective clients.” Alan & Lorraine Sellers of 227 Banks Street, Ashgrove ‘PAINLESS & VERY PROFESSIONAL’ “Brigette and her team were great to deal with. Brigette gave us a realistic appraisal and said she expected the house to sell in three weeks. The house sold in two weeks and for a price that met our expectations. I highly recommend Brigette and her team to anyone selling in Ashgrove.” John Seller of 154 Ashgrove Avenue, Ashgrove RIGHTON PROPERTY BRIGETTE.RIGHTONPROPERTY
RIGHTON PROPERTY TEAM Righton Property is an experienced team of professionals dedicated to offering exceptional service and the right advice to achieving a premium sales result. We aim to provide a bespoke service and make the process a seamless experience for all parties. Our genuine care of people enables us to strike a balance between satisfying both vendors and buyers; and is a testament to our well-established position in the property market. ‘WITH YOU EVERY STEP OF THE WAY’ RIGHTONPROPERTY.CO AMY MACDONALD 0433 312 170 amy@rightonproperty.co BRIGETTE RIGHTON 0407 880 006 brigette@rightonproperty.co CHLOE MACDONALD 0425 533 090 chloe@rightonproperty.co
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