Whether you’re buying, selling, downsizing, upgrading or even renovating, Gott Realty have all the information you need to know about the Eatons Hill property market in 2019.
At Gott Realty, we pride ourselves on being a real estate agency for the modern era with nothing but our client’s interests as our main focus.
In this blog, Steve Gott shares his thoughts on the current Eatons Hill Property Market. And if you are thinking of selling, get in touch with us today on (07) 3264 2440 or send an online enquiry here.
Eatons Hill Property Market
As an agency we devote a lot of time and resources into researching and monitoring the Eatons Hill real estatel. Here is what we have uncovered:
- Over the last 2 years (up until April 2019), the market in the area has been stable.
- Days on the market is around 25, which also influences the median price of property in the suburb.
- There has been a slight increase in the median sale price from $580,000 to $600,000 over the last 2 years. This slight increase could be market aberrations. These irregularities generally take place around the post-Christmas period to June.
- When a seller prices their property there are two benefits to knowing what the market is doing. Days on the market gives an accurate indication to what the market is doing. However, selecting the right properties is the key to assessing days on the market and a starting price for a home. See example*
- Tracking the market as we do enables us to accurately price properties so that the sellers sell for the highest price. In Eatons Hill there is about a $40,000 range that a property will sell in.
House Pricing Eatons Hill
There are two important aspects when it comes to pricing a home anywhere in Australia:
- Selecting similar homes to the home being assessed. Do the research into how the homes were marketed – the pricing method used and the advertising and marketing methods used.
- Research days on the market. This research should consist of properties that have mainly sold near the average median days on the market. For example, 25 in Eatons Hill. However, in the last few months Eatons Hill has shown an increase of a few more days on the market. (My estimate is that we are closing in on 35 days on the market for median priced homes and longer for homes higher than the median price.)
Property Market Prediction Eatons Hill
Politics is going to play a major part in home prices in the next 5 years. If negative gearing is changed this will cause disruption. To what extent is unknown, but going on what happened in the early 1990s, it could be extensive. If this is the case, expect to see considerable price falls. Price falls will only hurt highly geared sellers.
This will have a knock-on effect to the Eatons Hill market. With days on the market blowing out, sellers impatience will be tested with how long it takes to sell a property.
Some sellers could dramatically drop their prices therefore setting the scene for other sellers to do so and setting a bench mark for property values.
If negative gearing remains as is the market could remain stable sitting around the current mark and with a bit of luck a slight increase in pricing.
Eatons Hill Property Market 2019
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Gott Realty service Albany Creek, Eatons Hill, Cashmere, Warner, Lawnton and Bray Park and many more areas across North Brisbane. Learn more here on our blog.