Housing market is smiling on downsizers
Thursday, 23 July 2020
The majority of our residents rely on the sale of their home to buy their dream retirement lifestyle at Kingsford Terrace Corinda, so selling at the right time and price is essential. We asked agent Charles Wiggett, of Hauss Realty at Graceville, if the Covid-19 crisis has led to any changes in the local real estate market and whether he thinks it’s the perfect time to sell your currrent home.
Charles Wiggett, agent of Hauss Realty
Charles has his finger firmly on the pulse of the real estate market in the inner southwestern suburbs of Brisbane and has helped several of our residents transition to the Kingsford Terrace village.
He says, despite the current economic climate, the local western suburbs’ real estate market is largely unchanged and is experiencing a shortage of properties for sale.
“The downwards pressure on the housing market that we are hearing about nationally has remained mild to date, particularly in our local area,’’ he says.
“Low interest rates and forbearance policies from banks and other lenders have helped to keep urgent sales off the market, providing further insulation to housing values.
“In the 4068 and 4075 postcodes, the market has remained relatively constant, largely because the factors that have contributed to an increase in local house prices still remain – school zones, public transport and proximity to the city.
From left to right: Aerial view of Indooroopilly, QLD 4068 and Corinda, QLD 4075
“Additional external factors such as the significant decline in the number of houses currently on the market and significant government stimulus have contributed to the current market conditions. Compared to the May-June period last year, there is approximately a 30 per cent decrease in the number of properties on the market. Ironically, this causes a shift in the market towards favouring the sellers rather than the buyer.
“While there is plenty of negative sentiment in the market, one of the advantages of selling at the moment is that there is a degree of safety in the short term as we know that current market conditions will remain until the end of September at the outside.’’
There are limited apartments still available for purchase at Kingsford Terrace but retirees looking to move into future stages within the village can take part in Aura Holdings’ Resident Transfer Program if their family home sells earlier than expected. You will be welcome to temporarily reside in another KT apartment or one of our other established villages in southeast Queensland while your beautiful new apartment is under construction at Corinda. Read more about the Resident Transfer Program here.
If you require any further information about the local market, please contact Charles Wiggett of Hauss Realty, Graceville, on 0424 754 114.
If you would like to inspect an independent living apartment at Kingsford Terrace, view floor plans for the Mitchell building, under construction, or find out more about the masterplan for the Corinda village, please call 07 3716 0804 or email live@kingsfordterrace.com.au.