How much do houses cost in 2024? Brisbane and Australia

Renovation Collaborative

Buy or Renovate? Which is more affordable?

When you discover the price to build your renovation plans you may think, ‘Surely it must be cheaper to sell and buy something better instead?’

In today’s episode, I talk to a real estate agent to find out what is happening in the real estate market in 2024 in Brisbane and all around Australia, and the forecast moving forward.

I also investigate the impact of flooding on property prices and how environmental design is valued in the market.

I talk to highly respected and experienced real estate agent, Tim Douglas from Place West Estate Agents in Paddington Brisbane.

KEY POINTS SUMMARY

Another fantastic interview with Tim Douglas. I just want to draw your attention to three main points from today.

1. Firstly, the property market is showing growth in most Australian capital cities, with Brisbane looking particularly strong going into the Olympics. Brisbane has had a very strong run since COVID and there's no sign of that stopping over the next 7 - 8 years.

2. Secondly, the high price of construction over the past few years has led to a shortage of completed larger renovations and new houses in the Brisbane market. Therefore, these products are now in high demand. On the flip side, unrenovated smaller cottages are not performing as well as they used to. This is obviously because there's not as much enthusiasm for renovating as there used to be, making these products less desirable. Tim advised that if you're able to hold onto one of these properties and just wait, they'll become a better investment over the longer term.

3. The third point was that environmental design adds value. I've always known it does, but it's really great to see that reflected in the market. Getting the climate responsive design basics right is always a winner. Get those living areas facing north, the indoor outdoor living areas, so they'll be filled with light and responding to the climate, responding to the seasons, winter through summer.

INTERVIEW QUESTIONS

00:00 Introduction

01:09 What's happening with the price of real estate in Brisbane in 2024 and looking forward?

11:18 What is happening with house prices in the other Australian capital cities looking forward?

19:21 Does a house designed to suit the climate have greater property value?

21:19 Do other environmental initiatives add value and are buyers looking for them?

23:07 What effect does potential flooding have on a property in the current market?

30:22 If someone was planning to renovate and sell within 5-10 years, what advice would you give them on the right amount to spend?

WANT TO READ MORE?

Download the written version of the entire interview as a PDF.

S1:E07 How much do Houses cost in 2024?- Transcript

Looking for more information on design, construction costs or environment?

You can find everything you need on the Renovation Collaborative website.

• Listen to the full podcast or get the transcript PDF edited into Q & A.
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• You'll also find eleven easy to read courses demystifying the entire home design and construction process.

www.renovationcollaborative.com.au

IN THE NEXT EPISODE

Next week, I move on to the next step in the Renovate or Sell journey; Obtaining finance. Over the next two episodes, you'll find out about the very valuable information that a mortgage broker can provide.

I'll be talking to highly respected mortgage broker Richard Jefferies from Newbridge Home Loans in Brisbane.

GET IN TOUCH

The podcasts are about finding answers to your questions. If you have any feedback or any topics that interest you, please let us know.

www.renovationcollaborative.com.au/contact/

RESOURCE LINKS

Tim Douglas, Place West Estate Agents, Brisbane

www.placewest.com.au