Before work-life balance became a recognised concept, people’s preferences for their residential area were quite simple - reasonably priced, spacious for a family and near necessary establishments. But, as people’s perspectives evolved, so did the criteria for their dream home.
This is where Brighton comes in - a northern coastal suburb in Brisbane where families can build their lives or solo residents can balance hustling and healthy living. If you are thinking of selling your Brighton property, this blog post will provide Brighton real estate insights and tips on how sellers can capitalise on the current market conditions.
Latest Brighton Property Trends
Brighton, Brisbane. Think relaxed coastal-side living, vintage Queenslander-inspired homes and posh suburb structures but with an environmental-centred vibe. However, there is more to Brighton’s charm.
Here are the Brighton property trends that explain what will help us understand recent real estate trends in the Brighton area.
Huge Increase in Median Pricing
From March 2023 to February 2024, the median price of houses for sale is around $851,500 showing a growth of 2.3% in the past 12 months. In realestate AU’s data, 53 houses were available for the past month with 170 sold in the previous 12 months. Each house was estimated to have a 50-day median time on the market.
Based on Domain AU’s profiling, you can sell your 2-bedroom house for around $700k with an average of 32 days on the market.
The Brighton real estate market has shown a robust trend, with the median house price increasing significantly. The number of houses sold in the past 12 months and the median stay in the market also indicate a steady demand.
According to different sources, the market is active, with rising prices and a notable difference in median prices for specific property types.
Ideal Rental Yields
Renting houses and apartments is booming steadily. Realestate AU’s recorded median rental price from March 2023 - February 2024 for a house is $620 per week, while apartment rentals average $510 weekly. These rentals record a 3.8% and 910% 12-month increase, respectively.
Looking back at the January - December 2022 data, the weekly median rental price for houses was recorded to be $575, while apartments had a median weekly price of $455. If you are a homeowner and own another residential property, turning it into a rental property would provide you with a good passive income.
Most homeowners are families
Brighton’s laid back atmosphere appeals to families and the younger population. In Domain AU’s data, they reported that 76% of Brighton’s 9,490 citizens are homeowners and the rest are renters. Families make up 48% of the house owners, while 52% belong to the Single category.
From Brighton’s tranquil location to the various activities that can be enjoyed at the public parks and shopping centres, residents have many options for spending their time leisurely or otherwise.
Beachfront properties are highly preferred
Due to Australia’s balmy weather, waterfront homes are sought-after by families and solo homeowners alike. Refreshing sea breezes, conveniently accessible beach strolls, and revitalising morning swims appeal to many buyers. Regarding real estate worth, the heightened interest in Brighton as a rising suburb creates the desirability of owning a coastal residence, making it a worthy investment opportunity.
Strategies for Home Sellers in Brighton's Competitive Market
Emphasize your proximity to the coast
If the property you’re selling is near to Sandgate or Shorncliffe, whether it’s a 25-minute walk or 45-minute drive, highlight it to have better chances of capturing the attention of aspiring bayside homeowners. Walking from Brighton to reach these two spots gives you the chance to explore breakfast diners or even stop for a picnic at Hornibrook Bridge.
Give focus to the special amenities
If your home or apartment comes with a pin-coded gate for security or an outdoor area with a shower, foot bath and equipment storage for ocean-based activities, include it in your description so you can further narrow down your target market to those who enjoy beachfront homes not solely for the aesthetic but for the active lifestyle also.
Provide details about the schools near you
Families and single persons share the market demand as Brighton’s property buyers. A 4 to 5-bedroom house would be better marketed to families that have school-age children. St. Kieran’s Catholic School, Bracken Ridge High School and Nashville Primary School are prestigious and reliable.
Single residents who are remote workers can work in cafes, unwind at the local bars, or engage in sports like sailboarding, paddleboarding, and kite surfing.
Suggest activities for both family and solo homeowners/renters
Showcase your knowledge as a Brighton local by shedding light on what the new owners or renters can do aside from swimming. Advise on recommended cafes, share directions to the local park for pet owners, and suggest a visit to the Sandgate golf course.
The reason for this is, they are not simply buying a house. They are building a lifestyle and you as a homeowner can take this chance to show them the best of Brighton and how your property can help them live their dream life.
Conclusion
Brighton is a picturesque beachside suburb and a thriving real estate market with compelling trends and opportunities. The substantial increase in median house prices, reaching $851,500 in the past year, indicates a robust and competitive market. The demand for Brighton property as shown in the, particularly bayside homes, has driven the real estate landscape to new heights, making it an attractive investment for sellers and potential buyers.
For sellers entering Brighton's competitive market, strategic emphasis on proximity to the beach, unique amenities, and nearby schools can significantly enhance property value. Highlighting Brighton's calm but active lifestyle, beyond the aesthetic appeal, provides a compelling narrative for potential buyers or renters.
Selling a property in Brighton is not merely about transacting real estate; it's about selling a lifestyle. By considering the Brighton real estate insights, sellers have the opportunity to connect with buyers on a deeper level, illustrating how their property can be the gateway to their dream Brighton life.
Considering selling your Brighton property? Contact us today to leverage these trends and maximise your return on investment! Sources: