This month, we’re joined by Gali Cohen from Lifestyle Property Buyers. Gali has nearly two decades of experience in the property industry and has called Brisbane home for more than 20 years, giving her a great understanding of the city and its property market.
Through Lifestyle Property Buyers, Gali works closely with home buyers and investors to help take some of the stress and uncertainty out of buying property. From finding the right property through to negotiating and securing it, her approach is very hands on and focused on understanding what each client is actually looking for.
We caught up with Gali to hear what she’s seeing in Brisbane right now, where buyers are looking and what she expects from the market over the next 12 months.
What is the biggest trend shaping the Brisbane property market right now?
The biggest trend shaping the market right now is the move towards a more balanced market. This has been due to the recent interest rate rises and the budget release. What I’ve noticed is that units and townhouses, whilst still attracting interest, are not getting as many groups through opens and are not selling after the first open. I’m definitely seeing a shift towards it being a buyer’s market. This is great news for my clients. Recent data also shows auction clearance rates have softened, giving buyers more negotiating power than they had 12 months ago.
Which Brisbane suburbs are attracting the most buyer interest at the moment?
Suburbs such as Camp Hill, Carina, Carina Heights and Mount Gravatt, to name a few. Most suburbs within 15 to 20km proximity to the CBD continue to attract strong competition. Affordability is also driving increased enquiry into suburbs like North Lakes, Springfield Lakes, Caboolture and Brisbane’s outer growth corridors. Well priced, move in ready homes in lifestyle suburbs continue to attract multiple buyers, while overpriced properties are sitting on the market longer.
Are investors becoming more active in the current market and why?
I certainly saw an increase in SMSF clients who were working to get a property through before the changes came into effect. Some investors are not as active due to the budget changes and the uncertainty around how that’s going to play out, so they are in observation mode until there is more certainty around these new changes.
What is your outlook for the Brisbane property market over the next 12 months?
Brisbane is still seeing population growth, limited housing supply and continued infrastructure. These factors tend to support steady price growth across many Brisbane suburbs. While the Olympics alone won’t drive the market, they are likely to strengthen the city’s long-term fundamentals.
A big thank you to Gali for taking the time to share what she’s seeing in the Brisbane market. It’s always valuable to hear from someone who is out there working with buyers and seeing firsthand how conditions are changing from suburb to suburb.
The market will continue to move but having a clear understanding of what you’re looking for, what you can afford and where the opportunities may be can make the property journey a lot easier. We appreciate Gali sharing her insights with the Madd community and look forward to seeing how the Brisbane market unfolds over the coming months.
