March continued the momentum of January & February with lower new listings to market and increased buyer demand, shown by open home attendance 10.65% higher than the same time last year.
Sellers in the market continued to be rewarded on sale day, no better highlighted than a record auction month for Queensland in March for Ray White with a total of 755 auctions. Impressive on many levels. Of the 755 auctions conducted, 2 in 3 sold under the hammer with an average of 5.4 registered bidders per auction.
Another continued show of confidence in the market is the new loan approvals up 70% on the same time last year. A percentage of these would be refinancing, buyers in the market are more engaged with their banks / brokers due to the new interest rate environment. Loan pre-approvals is a positive sign of future activity in the market
Average South Brisbane Prices March 2024
1-bed apartment $455,000 (Low $385,000 High $720,000)
2-bed apartment $690,000 (Low $510,000 High $1,310,000)
3-bed apartment $1,556,500 (Low 1,175,000 High $2,550,000)
House $1,367,500
South Brisbane House Price Data 10/4/2024 
Open For Inspection Data RW 10/04/2024 
Loan Approval Data RW 10/04/2024
