As house owners continued to celebrate the market through the start of 2016, things have been very different for those selling units and townhouses. Whilst development continued throughout the local suburbs, media announced the seventh consecutive fall in unit median prices, and buyer numbers reduced through open homes, leaving owners scratching their heads with confusion.
In the Carina/Coorparoo areas, whilst we were aware that owners of existing units and townhouses were up against the new shiny baubles being offered by developers, prices seemed to be holding; but over the last 3 months we have seen a marked reduction in buyers and offers.
It seems that this misery is likely to continue also with developments yet to come out of the ground, an election, rents reducing and buyers sitting back and waiting. General consensus seems to be if you are planning to sell a unit or townhouse in the foreseeable future, then now’s the time.
Remember, no matter what the market, I am always here to help you through both the buying and selling process for your home. Give me a call on 0488 151 605 or use our online Buyers Club form to register your interest.