Sellers are in estate of excitement
QUEENSLAND has escaped the worst impacts of COVID-19 on the real estate market, with the pandemic having a smaller impact than fallout from the Banking Royal Commission and the 2019 federal election, a new survey found.
A whopping 39 per cent of home sellers in Brisbane got a higher price than they expected, according to the latest price expectation report from real estate agent ratings site,
RateMyAgent. The survey of more than 33,000 Australians, tracked sentiment in the property market, as well as seller satisfaction for the first half of 2020. Southeast Queensland was home to the majority of the state’s happiest home sellers, with nine of the top 10 happiest areas hailing from the region.
Brisbane and Moreton Bay led with the highest proportion of sellers who got higher prices than they expected (39 per cent), then Scenic Rim and Redland (38 per cent), Logan (35 per cent), Sunshine Coast and Gold Coast (32 per cent), Fraser Coast (28 per cent), Lockyer Valley (27 per cent) and Ipswich (23 per cent).
RateMyAgent chief executive and co-founder Mark Armstrong said vendor happiness had bounced back during the COVID-19 second quarter. “What we’ve seen in the June quarter is an astounding turnaround in market confidence.” He said the banking royal commission and the election in 2019 had a significantly more negative impact.