By Cameron Campbell
The start of 2021 for Enclave Property Group has been a very busy and productive one. We really hit the ground running and were honoured to be awarded Agency of the Year for Newstead and Agent of the Year for Newstead by Rate My Agent. The results of our small team of four definitely speak for themselves, with a record sale of a premier listing in Pier at Waterfront, along with several other properties, bringing us to $25 million in sales so far this year.
One thing that has resonated a great deal in the past few months for all of us is that Queensland really does seem to be the place to be. This has certainly been proven by the droves of southerners wanting to relocate their lives to the Sunshine State. Brisbane has seen price increases of 1.5% in February alone taking the annual growth rate to 5% according to new data just out. This is the steepest rise since the end of 2007 when the annual growth rate was at 1.72%. The Gold and Sunshine Coasts are even higher at 2.6% and 2.5%. I feel that Brisbane is always going to be a strong performer and a consistent one, unlike both the North and South Coast areas.
Yes, it is true, people do fall in love with the beach lifestyle, and now with the ability to work from home and abroad it has made people question the need to live in cities. However, research has shown that when the COVID–19 pandemic dissipates everyone will be heading back to the office as productivity has decreased in the workplace according to the ABS. Also, it has always been the case that holiday towns have always been very cyclical in terms of demand and prices. In 2009 I recall every second house in Noosa was for sale which caused a huge price plunge up there and only really started to recover in 2015. A great number of people who put all their eggs (investments and major assets) in holiday markets such as Noosa lost everything. If you take a drive to the Sunshine or Gold Coasts currently it is very reminiscent to the price growth from 1998 to 2007 (pre GFC times) when people thought the music would never stop. But like everything, what comes up must come down. I would be quite hesitant to buy in holiday markets like the Gold or Sunshine Coast that are highly overpriced at present.
Brisbane has the infrastructure, business districts, lifestyle and it is only a 50-minute drive to Caloundra and 45 minutes to Main Beach on the Gold Coast - it truly has the best of everything on offer. It is also evident that there is a shortage of properties on the market right now, not to mention the hordes of buyers flocking to snap up stock even before it hits the market. With supply levels being so tight at the moment, and with more buyers than sellers, Enclaves biggest challenge right now is sourcing enough stock to satisfy our network of buyers.
We at EPG live and breathe all things property, all things Newstead, and all things Brisbane. Our team always stands on principle, integrity, and longevity and work extremely hard to strive to achieve the best for our clients and will continue to make that our priority for 2021.
Stay safe, well and happy,