For many developers, it feels like the market has shifted. Enquiry volumes aren’t as strong as they were 3 months ago and buyers are taking longer to make decisions. Time on market has stretched, and sales teams are spending more time nurturing prospects than converting them.
It’s understandable why there’s uncertainty.
Yet, at the very same time, Brisbane’s property market continues to outperform much of the country.
According to the latest PRD Smart Moves: Capital Cities report,
Brisbane house prices have increased by 14% over the past 12 months and Unit prices have surged by 23%.
Forecasts suggest further growth of up to 10% for houses and 18% for units over the next year, driven largely by the city’s ongoing housing undersupply.
So how can both things be true?
The Market Hasn’t Stopped. Buyer Behaviour Has Changed.
Rising property prices don’t necessarily mean buyers are acting quickly. In fact, we’re seeing almost the opposite.
Today’s buyers are spending more time researching, they’re:
- Comparing more projects,
- Revisiting websites,
- Attending multiple display homes,
- Watching interest rates,
- Following policy changes and
- Carefully weighing up their options before committing.
Buyers are still interested, but they’re taking longer to make a decision, and for developers, that’s an important distinction.
A longer sales cycle doesn’t automatically mean demand has disappeared. It often means buyers need more confidence before making one of the biggest financial decisions of their lives.
Unlike Sydney and Melbourne, Brisbane continues to benefit from one of the country’s strongest supply-demand imbalances.
Population growth remains strong, housing supply continues to lag behind demand, vacancy rates remain exceptionally tight and new housing delivery is struggling to keep pace.
These fundamentals continue to support property values, even as broader economic conditions make buyers more cautious.
In other words, the market is still moving, just at a different pace.
It’s no longer enough to simply generate enquiries. Developers need to remain visible throughout a longer buyer journey, educate purchasers, reinforce their project’s value and build trust over weeks, or even months, before someone is ready to purchase.
The projects performing well aren’t necessarily the ones with the biggest advertising budgets, it’s the ones consistently showing up.
They’re telling a compelling story, demonstrating value, staying in front of buyers across multiple touchpoints and giving purchasers confidence every step of the way.