A growth mindset for Brisbane property 2023

Welcome back from our team and we wish you a very Happy New Year!?

In our first week back, we have certainly experienced plenty of positivity reflected with strong inquiry and excellent numbers at our open homes last weekend converting to sales.

The market continues to experience a shortage of quality stock and with many new buyers arriving in Brisbane during Christmas and New Year, particularly interstate and expats moving here, the inner city market remains buoyant.??

A tight rental market has also boosted sales, as many buyers consider making a purchase more cost effective than renting.?

Our 2023 outlook is optimistic, affirmed by buyers viewing their purchases with a longer term growth mindset.?

2023 is certainly a much easier market for buyers, clearly stabilising following a growth spurt of up to 50% over the past 5 years according to RP data.?

And as for rising interest rates and inflation, these appear to be offset by Brisbane's continued strong economic forecast driven by billions of dollars worth of exciting infrastructure works and a tight labour market. This continues to drive bank lending confidence, with plenty of money being circulated for property purchases.

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This Week's Top 10 Sales

And if this week is any indication, 2023 is going to be another incredible year in the prestige market. And although there were some shy owners towards the top of this week's list, the combined value of the top 5 sales was just under $25,000,000! Take a look at the top 10 list below:

1. 94 Retreat St, Bridgeman Downs $confidential

2. 4002/140 Alice St, Brisbane $5,100,000

3. 127 Virginia Ave, Hawthorne $confidential

4. 93 Lindsay St, Hawthorne $4,100,000

5. 401/12 Bailey St, West End $confidential

6. 20 Lisle St, Tarragindi $3,015,000

7. 33 Spencer St, Corinda $2,800,000

8. 47 Morehead Avenue, Norman Park $2,600,000

9. 84-86 Howlett Rd, Capalaba $2,430,000

10. 65 Gower St, Toowong $2,265,000

?*Top?10?Results are based on publicly available data, auction results, and data provided by agents. Data is deemed reliable at the time of publication but Christine Rudolph and Ray White New Farm neither?warrants?its accuracy or accepts any liability in relation to its use.

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2023 Market Forecast

As we mentioned earlier in our email, prices across inner city Brisbane have jumped by 50% in the past 5 years.

If you are interested to know more,?please click here?or see our video report below.

We have some gorgeous properties coming to the market in the next couple of weeks as well as some off market opportunities. If you'd like to know more or if we can help you with any advice on the Brisbane market, please contact me as we would love to look after you.

Have a great weekend,

Christine