Brisbane is the third most populous city in Australia with a population of over 2.3 million people. Brisbane City is approximately 3 square kilometres and size with parks covering 8% of the total area. The predominant age group in Brisbane is 25-34 years with most households being made up of childless couples working in a professional occupation.
Traditional agent commissions in Brisbane
Agent commissions in Queensland are generally the third highest in Australia, to sell a property in Brisbane with a traditional agent you can expect to pay around 2.5% - 2.75% plus GST on average. On top of a commission, if you sell with a traditional agent, you would also generally pay additional advertising fees which can increase your total cost significantly. For example, in a competitive suburb like Newstead, the top upgrade available on realestate.com.au may be a few thousand dollars. All up, your total cost is likely to be well $14-20,000+ if you decide to sell with a traditional agent as opposed to as low at $694 if you sell your home yourself with the help of PropertyNow.
The real estate market in Brisbane
The real estate market in Brisbane hasn't been slowing down the way southern cities have and is currently experiencing an 'upward sweep' according to YourInvestmentPropertymag, boosted by population growth, low interest rates, and level of affordability compared to other cities.
Dwelling values in Brisbane experienced an annual growth rate of 6.2% over the last 12 months (which is the highest annual growth rate in Brisbane since 2014). House values have grown more strongly then units in the last 12 months with houses being 6.7% higher in value, compared with a 1.2% rise in unit values.
As of June 2016 median dwelling price is Brisbane is $465,000 with median house values at $500,000 and median unit values of $382,000.
Housing demand is fairly firm and rentals yields are higher than most other capitals, however average weekly rents are down for both houses (down 0.5% over the last 12 months) and units (down 1.3% over the last 12 months).
The average number of days on the market for sale properties is nearly two months, with 55 days on the market being the average for March 2016 (slightly longer than the average of 46 days on the market in March 2015.)
Auction clearance rates were at 55% in early June 2016 (compared with 48.% at the same time last year).
Selling property in Brisbane without an agent
We've had excellent feedback from owner's using our service to sell Brisbane based properties, in fact it's one of our most successful locations for both sales and rentals. We do tend to notice that whilst not moving quite as fast as most Sydney properties, Brisbane based properties experience much higher enquiry rates and faster sale times than owners in regional areas where demand is lower.
By not paying an agent a hefty commission you give yourself more room to move on the sale price, putting you at an advantage against similar properties in the market. You can also know for you sure that enquiries are being responded to as quickly as possible and are properly followed up instead of being in the dark as to what's going on. If you're not sure of how to price your property, we can even provide you with a detailed breakdown of sale statistics for Brisbane (or a specific suburb of Brisbane), as well as an estimated value of your property itself.
Testimonial from clients in Brisbane
PropertyNow market properties and support owners to sell privately nationwide.
Mr Crozier, who sold his Aspley property in 2016 with the help of PropertyNow said "We have been very pleased with the process of selling our house through property now. It was simple and we had a great experience. If you are thinking about selling your home privately then you should definitely give it a go. Its much easier than you think."
Shannon who leased his Fortitude valley property in 2016 with the help of PropertyNow said "I've rented out my apartment effortlessly through Property Now. Highly recommend!"
*Authored June 2016. Please contact us if you require more recent information or advice about leasing or selling a property in Brisbane yourself.