MONITORING THE MARKET

Monitoring the market and wondering what is happening in your local area?The best way to find out what is happening in your local property market is to talk to your local real estate agent. The agents at Platinum Edge Properties are out in the community on a daily basis appraising and selling properties of all kinds. Not only do they keep in touch with the locals and the community but they are also keeping up to date with property trends, Interest rates and housing markets of other areas.

If you are after a more general look at the housing market, a good place to start is RealEstate.com where you can get data on specific suburbs.

Here is a snap shot of the housing market as stated by Real Estate.com.

BEAUDESERT

The Beaudesert real estate market is doing well, up 6.7% in the past 12 months with homes going from mid $300,000 in May of 2019 to now reaching an average of almost $600,000 by the April 2024. This doesn't include units and Apartment prices, they have jumped up a healthy 12.6% in the past 12 months reaching prices of almost $390,000 in April 2024. Adding this all together, now seems to be a good time to buy and sell in Beaudesert.

KOORALBYN

Kooralbyn has had a much bigger housing boom than Beaudesert where house prices have soared well above the $600,000 rage giving the Kooralbyn real estate market a growth of 12.8% for houses in the past 12 months alone. 56 houses has sold in Kooralbyn in the last 12 months with another 848 buyers still interested in the area. Homes in Kooralbyn have been, on average, spending 55 days on the market. We expect the popularity of Kooralbyn will only grow as we get closer to the 2032 Olympic Games where Kooralbyn is to host some of the Olympic rowing teams.

GLENEAGLE

Gleneagle is definitely a suburb to watch at the moment. Lots of new housing is going in and it is becoming increasingly popular for all demographics with Daycare's, parks and more being added to the area. The median house price as of April 2024 is sitting around the $650,000 range, up 13% in the last 12 months. Houses in Gleneagle are spending significantly less time on the market with an average of 36 days and still over 600 buyers looking in the area.

Other than looking at house prices in the area, you want to be keeping an eye on the RBA Cash Rate when you are on a buying and selling journey.

The RBA release announcements for the cash rate 8 times a year to keep you well up to date with how the economy is going. It is important to know the cash rate as it has a strong influence over the interest rates in the economy, such as lending and deposit rates. The current Cash Rate as of 8th May 2024 is 4.35% with another announcement due to come out on 18th June 2024.

For the best personalized advice on buying or selling, it is recommended that you contact you local Real Estate Agent. Ben and Peter from Platinum Edge Properties are here to help you throughout the whole process and make it smooth and simple for you. Call Peter on 0413 744 450 or Ben on 0422 041 878 to get a free home appraisal. They will walk through the home with you and compare prices within your area to give you the most accurate value on your home.