The media says prices are dropping let’s look at the facts.
Core Logic data shows the Sunshine Coast regional property prices have changed as follows;
🔽1 month -2.5%
🔽 3 months -6.0%
🔼 12 months +8.0%
The current median house price at $951,626, in October 2020 the median house price was $622,500, so we are still up more than 40% before the pandemic!
On the ground, yes, there are more properties listed and less Buyers, those looking are taking their time to investigate and negotiate.
Each time the interest rates rise it knocks financed Buyers down in their budget, so less expensive areas, and properties such as duplex and units are actually seeing a boom in prices due to demand.
Property is a long term investment, you need to get your foot in the door as soon as you can, and hang on for the ride.
