Open home numbers up 20pc in south Brisbane

One franchise group is taking advantage of a surge in buyer interest in a south Brisbane commuter suburb.

With a commercial office already nearby, Raine&Horne has rebranded a residential sales and property management office in Capalaba.

“There are plenty of buyers and not enough listings, which means properties that are well priced will sell very fast,” principal Colleen Du Toit said.

“It’s fair to say there are easily 20 per cent more buyers at open homes than at the beginning of the year, while days on market have dropped dramatically.”

Affordability is one of the factors that make Capalaba and surrounding suburbs, such as Raby Bay, attractive to buyers, especially young families.

“Three-bedroom townhouses are available for less than $300,000, making Capalaba a very popular suburb with younger families,” said Ms Du Toit.

The area is also a drawcard for investors, due to high rental demand and a drop in the number of vacant rental properties.

“First-time buyers have snapped up long-term rental properties that have hit the market in recent times, and as a result we have near to zero vacancy rates in Capalaba,” said Ms Du Toit.

“If investors can find a property in Capalaba, which is a popular rental hub, they can almost be assured of finding a quality tenant prepared to pay good money for their apartment, townhouse or house.”

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