Property market update: Melbourne, April 2022
Melbourne’s growth plateaued over April and posted its first quarterly since the start of the pandemic boom, further d...
Homebuyers and investors are flocking back to the Brisbane property market after the recent election, according to Hot Property Specialists Buyers’ Agency’s Zoran Solano.
Mr Solano said some price brackets were performing better than others.
“While there are opportunities in all price brackets, at the moment we’re seeing great buys around the $500,000 to $700,000 price range in blue-chip areas,” he said.
“These properties often provide good yields and are well maintained. They’re also the ones to bounce back quickly, particularly once the lower-end activity thrives again.”
Mr Solano warned, however, that there was a limited window of opportunity for investors in this price bracket. He said lower-end market activity would likely soon push property prices upwards.
“Especially when property owners realise it’s time to sell their cheaper property for a good price upgrade to a much better quality property for a little more. It’s all about the ripple effect,” he said.
“Negotiation is key right now – on price and due diligence – especially as competition returns to the market. The days of dawdling around on price look like they’re in the rear-view mirror.”
Despite the opportunities, Mr Solano said investors still needed to be careful not to "just jump into anything".