According to recent statistics released by CoreLogic (link) Brisbane has been one of the only Major capital cities to see growth over the last month, this sentiment has also been felt through our own Conveyancing volumes. Brisbane showed a 0.1% growth in September whilst other capitals like Sydney (-6.1%) and Melbourne (-3.1%) had been trending backwards.
Our Conveyancing team reached out to local Brisbane Property Finance Expert, Mr Jayden Vecchio from Hunter Galloway to see his view on current property market.
“We've seen a 5-10% increase in home buyer activity this year even with all the doom and gloom in the media. There are still some strong incentives to buy, including the Queensland Governments Great Start Grant, and stamp duty concessions, historically low home loan rates and affordable house prices across the state. In particular this year we have noticed very strong pre-approval activity leading into the end of the year, which we find people want to be in their new home by Christmas. “
On the lending front, despite there being reports of mortgage rejections hitting 40% of applications submitted Mr Vecchio noted that “We have found while home loan applications are taking longer to get approved (with lenders following a more robust approval process) our home loan approval rates have remained over 91%. “
The Conveyancing professional you choose to help you will greatly affect how smooth a property transaction in Brisbane will flow and there are a lot of Conveyancing law firms on the market, of different sizes, with different quotes, fee structures.
To know you are using a well ground company with the capacity to service you check the following:
When comparing Conveyancing Quotes it can be highly Confusing, check our list on what to look out for with quotes here:GET QUOTE
The Brisbane property market is doing what it does best, bucking the trends of Sydney and Melbourne and showing Buyers and Sellers that its market is anything but dead. So if you are looking to buy soon, be prepared, do your research and go in informed and ready to rumble.