Market Review – August 2021
September 7 2021
The trend of low supply coupled with high demand continues to fuel the impressive sales results seen over the month of August.
Hungry home buyers, both local and from interstate, continue to purchase Queensland property, with no deterrent from the widespread lockdowns.
The last week of August ended with a 0.6 percent rise in property searches, according to data from the REA Insights Buyer Demand Index, showing that the desire to purchase property has continued strong into the start of spring.
According to CoreLogic, the national home-value index rose 1.5 percent in August from the month of July, the lowest monthly growth since January this year but still well above average, with every city capital besides Darwin seeing an increase.
The August update also shows Australian housing values soar, reaching 15.8 percent over the first eight months of this year and 18.4 percent over that of a year ago.
Beachfront properties performed particularly well for us last month. There were three separate sales on Jefferson Lane in Palm Beach, and the record sale of 139-141 Hedges Avenue Mermaid Beach set the benchmark of price per meter square along the prestigious avenue.
Premium listings on our books favoured auctions last month, with online technologies allowing even those buyers who couldn’t access properties the ability to participate through virtual walkthroughs and online auctions.
Sales by Team Dowker in August achieved $42,508,000 in unconditional sales at an average price of $4,723,111 and an auction clearance rate of 100 percent. We secured premium prices on the following prestige properties in August:
With springtime upon us, this is traditionally the best performing season for the market and the opportune time to sell. If you are interested in achieving the best result for your property and benefit from the strength of the current market, or simply to discuss your real estate goals, then Team Dowker would love to hear from you.