THE Redlands property market has softened, however it continues to perform strongly compared with many other parts of Australia, despite higher borrowing costs and a more cautious economic environment.
It was good news that the RBA left interest rates on hold this month, leaving the cash rate unchanged at 4.35 per cent.
This provides greater certainty for homeowners and buyers, although we are seeing some properties taking longer to sell as buyers become more selective and take greater care before committing.
Demand continues to be driven by the Redlands’ strong lifestyle appeal.
Cleveland’s median house price is around $1.28 million, while Wellington Point is around $1.39 million.
Redland Bay has also recorded strong growth, with the median house price now around $1.18 million.
While buyers are becoming more considered, quality properties remain in demand.
Cleveland, Wellington Point, Thornlands, Victoria Point and Redland Bay remain popular with owner-
occupiers seeking more space and lifestyle value than many Brisbane suburbs can offer.
Waterfront and bayview properties remain particularly sought after and can command premium prices.
Supply remains a key factor as limited housing supply continues to support property values across the Redlands.
New development in areas such as Thornlands and Redland Bay will provide additional housing, but ongoing population growth and demand are likely to keep pressure on available stock.
For sellers, accurate pricing, presentation and marketing are now more important than ever.
Properties that are well positioned can still attract strong buyer interest, while overpriced homes are more likely to remain on the market longer.
Overall, the Redlands property market remains in a strong position.
While growth may moderate from the rapid levels recorded recently, the region’s lifestyle appeal, population growth, limited supply and relative value continue to underpin demand.
Redlands Coast remains a wonderful place to live, work and invest, offering a unique combination of Bayside lifestyle, strong local communities, quality amenities and convenient access to Brisbane, the airport and Gold Coast.
