From house prices to market trends, Gott Realty has all the information when it comes to Albany Creek property growth.
In this blog, Steve Gott shares his expert analysis of the Albany Creek real estate market, as of April-May 2019.
If you are thinking of selling, to learn more about who we are and how we can help sell your home for the best price, give Gott Realty a call today on (07) 3264 2440.
Albany Creek Property Growth At A Glance
What has been the property growth in suburb over last 6 – 12 months?
Albany Creek growth has basically flat lined since May 2017. With the median sale price hovering around the $580,000. One of the major causes of this stability in growth is because prices have peaked with constant demand.
If you look at the number of monthly house sales, they have consistently been around 12 to 14 per month for the last 3 years. This stability is caused by consistent buyer demand. This flatness in buyer demand will possibly continue for some time until we see a growth in wages and population. If these changes occur there will be any substantial increase in property prices in the area.
What factors do you think have influenced this trend?
Albany’s Creek prices reached their peak some time ago. Indicators of this, even with low interest rates, is that prices are stable. This stability is caused mainly by lack of wage growth, prices reaching their peak and lack of population growth in Brisbane.
What are buyers in this suburb looking for? Has this changed over the last 12 months?
Buyers looking for a family environment, schools and personal safety are the main attractions to Albany Creek. Also the construction of the new university at Petrie will help attract future buyers to look at Albany Creek as a suburb to buy in.
Real Estate Market Prediction Albany Creek
The next 12 months will be much of the same. With it being an election year, the normal trend is for the market to remain unchanged.
Buyers will wait to after the election (May 18) and the post-election recovery or mini surge will take place causing a slight aberration in the data.
Towards the end of the year the market will settle back to normal with the median sale price still hovering around $589,000.
Albany Creek Property Growth
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