This month we had a great conversation with Kosma Comino, LJ Hooker Property Partner & Sales Manager. As a real estate agent of nine years, Kosma has established himself as a key professional and well-respected member in the community. We asked Kosma to provide insights into the Queensland Market, December-January selling tips, the impact of interest rates and more!

Kosma’s Overview of the Queensland Real Estate Market 

Over the past 12 months, Queensland’s real estate market has demonstrated remarkable strength, primarily driven by low property availability and high buyer demand. Despite the usual instant impact of rate rises, this year has been an anomaly with these increases not fully affecting the market as expected.

Do you have any specific advice for homeowners looking to sell their property during the Dec-Jan period?

Kosma said “If anyone is currently selling over the December-January period, the positive to this is there will be not many properties on the market thus you will not have as much compensation. However, this window is small so any decent offers coming in should really be considered.”

How are the current interest rates affecting the buying and selling behaviour in Queensland?

“Due to so many rate rises, potential sellers have the idea that if they sell they won’t achieve a great result which is drying up the supply. This is holding house prices and stopping prices from dropping which I believe may be different in 2024.”

2024 Market Predictions

“Looking ahead to 2024, a slight decline in property values across most areas is anticipated, though not as severe as some media outlets suggest. Newly built/constructed homes and developments and those located within sought-after school catchments, are expected to maintain their value more effectively.”

Challenges in the Current Market

Addressing the hurdles in today’s market, Savva noted, “Buyers face intense competition due to lower stock levels, often missing out on properties. Sellers, on the other hand, are grappling with market uncertainty fuelled by negative media reports, despite contrary on-ground experiences.”

Advice for First-Time Home Buyers

“First-time home buyers should approach the market without haste, as new properties are continually being listed. It’s advisable to extend one’s budget if it means securing a property in a desirable location. Thorough research and a strategic approach are key to making a wise investment in today’s market.”

Kosma’s insights provide essential guidance for anyone involved in Queensland’s vibrant real estate market. His expertise is particularly beneficial for first-time buyers, investors and sellers, helping them understand crucial market trends and challenges for informed property decisions. Stay tuned for more expert interviews in our future newsletters!