Housing market is smiling on downsizers
Thursday, 23 July 2020
The majority of our residents are relying on the sale of their current home to buy their dream retirement lifestyle at Somerset Indooroopilly, so selling at the right time and price is essential. We asked agent Jack Dixon, of Dixon Estate Agents Toowong, if the Covid-19 crisis has led to any changes in the local real estate market and whether it might be the perfect time to sell your home.
Jack Dixon, agent of Dixon Estate Agents Toowong
Jack has his finger firmly on the pulse of the real estate market in the inner western suburbs of Brisbane and is helping several of our future residents to prepare their homes for sale in readiness for a move to Somerset within the prestigious Indooroopilly Golf Club on Meiers Road. Completion of stage one Somerset is expected by the end of 2021.
He says, despite the current economic climate, the real estate market within the western suburbs has been largely resilient and is experiencing a shortage of properties for sale.
Aerial view of Indooroopilly
“The Covid situation has led many potential sellers to hold back from listing their properties so this has led to a shortage of stock on the market, In fact, it’s the most obvious shortage I’ve seen in 10 years,’’ Jack says.
“Many of our clients have decided to hold back selling their family homes at the moment but with the temporary freezing of mortgage repayments and historic levels of stimulus on offer, we aren’t seeing widespread downward pressure on house prices. We believe buyers waiting around for a bargain will be in for a rude shock!
“There are plenty of buyers out there so we are still achieving strong results for our sellers. Australia has really fared particularly well considering this economic environment.
“We have seen several families returning from overseas, particularly the US and Hong Kong, who want to re-establish a life in Brisbane with their children. This has definitely led to a strengthening in the local market.
“We have also noticed that post-Covid, some 30 to 40 year olds who had moved to the CBD to live are now looking for a home in the suburbs that can offer more space, including a home office.’’
Jack says: “Our inner western suburbs are roaring back into fashion! Good quality, innercity Brisbane properties will always be in high demand.’’
Retirees looking to move into Somerset Indooroopilly can take part in Aura Holdings’ Resident Transfer Program if their home sells earlier than expected. You will be welcome to temporarily reside in the Kingsford Terrace Corinda community or another of our other established villages in southeast Queensland while your apartment is under construction within the Indooroopilly Golf Course. Read more about the Resident Transfer Program here.
If you require any further information about the local market, please contact Jack Dixon of Dixon Estate Agents Toowong on 0408 756 694.
If you would like more information about the retirement living options available at Somerset Indooroopilly, view floor plans of our luxurious apartments, please call 07 3720 9729 or email live@somersetindooroopilly.com.au.