Brisbane Property Market Update | February 2024 (2024)

Monthly sales volumes in the property market refer to the number of properties (like houses or apartments) that are sold within a month. This figure is a key indicator of how active the property market is. Here's what it generally means:

Market Activity: High sales volumes indicate a busy market with lots of people buying properties. Low volumes suggest fewer transactions are happening, which could mean the market is quieter.

Buyer and Seller Behavior: When sales volumes are high, it often means that buyers are eager and confident, leading to more competition for properties. On the other hand, lower sales volumes can indicate that buyers are more cautious, or there might not be as many properties that they're interested in.

Property Prices: Generally, high sales volumes can push property prices up, as more buyers compete for available properties. Conversely, when sales volumes are low, prices might stabilize or even decrease, as sellers might be more willing to negotiate to make a sale.

Market Trends: Tracking changes in sales volumes over time can give clues about where the market is heading. For example, consistently increasing sales volumes might signal a growing market, while decreasing volumes could suggest a cooling down.

Understanding monthly sales volumes can help you gauge the overall health and direction of the property market, whether you're looking to buy, sell, or invest.

The 'median days on market' is a real estate term that refers to the average time it takes for properties to be sold after being listed. As a buyer, understanding this metric can be quite beneficial. Here's how it affects you:

Market Pace: A lower median days on market indicates a fast-moving market. Properties are being snapped up quickly, which means you might need to make decisions faster and be prepared with financing in advance.

Competition Level: Shorter days on market often mean higher competition. You're likely to face more buyers interested in the same properties, which can lead to bidding wars and potentially higher prices.

Negotiation Power: In a market with longer median days on market, you might have more negotiation power. Sellers whose properties have been listed for a while may be more willing to negotiate on price or terms.

Market Health Indicator: This metric helps gauge the overall health of the property market. A steadily decreasing median days on market can indicate a growing, robust market, while an increase might suggest a cooling market.

Strategy Planning: Knowing the median days on market helps in planning your buying strategy. In a fast-paced market, you might need to act quickly and have fewer contingencies, whereas in a slower market, you can take more time to make decisions and negotiate.

Understanding the median days on market gives you a clearer picture of the current market dynamics, helping you to tailor your approach to property hunting accordingly.

Vendor discounting is a term used in the real estate market to describe the difference between a property's original listing price and the final sale price. It's an important concept for both buyers and sellers to understand. Here's a breakdown of what it means:

Price Adjustments: If a property is listed at a certain price but sells for less, the difference is known as vendor discounting. It reflects how much the seller had to reduce the price to make the sale.

Market Indicator: High levels of vendor discounting can indicate a buyer's market, where buyers have more negotiating power and sellers may need to lower their prices to attract interest. Conversely, low levels of discounting can signal a seller's market, where demand is high and properties sell close to or even above the asking price.

Negotiation Insights: Understanding vendor discounting can give buyers an idea of how much room there might be to negotiate on price. In markets with high discounting rates, buyers might feel more confident in making lower offers.

Seller Expectations: For sellers, vendor discounting can help set realistic expectations about the selling price. Knowing the average discounting rate in their area can guide them in setting a competitive listing price.

Market Trends: Changes in vendor discounting rates over time can provide insights into market trends, helping both buyers and sellers make informed decisions.

In summary, vendor discounting is a key metric that reflects the negotiation dynamics in the property market, offering valuable insights into current market conditions and trends.