Fears of a property market downturn are not being reflected in Beaudesert’s housing market, according to local real estate agents.
They say the district is experiencing a market correction, rather than a crash, as buyers become more cautious following the Federal Budget.
Morris Property Principal Maz Morris said she had noticed greater buyer discretion since the Federal Budget announced changes to negative gearing and the capital gains tax discount, which are due to take effect in July 2027.
She said the changes had affected investor confidence and contributed to a more cautious approach from both buyers and sellers.
“Since the Federal Budget in May, everybody who buys themselves has been continuously watching the market in terms of performance and how things are going to go from there,” she said.
Maz said the local market had begun to “flatten out” following the rapid price growth experienced during and after the Covid-19 pandemic.
“Today’s market is healthier – buyers have more choice, negotiations have returned, properties need to be priced correctly and presented well,” she said.
“In many ways, we’re returning to what is described as a very normal market.”
Data from realeastate.com.au shows Beaudesert’s median house price increased 18.9 per cent over the past 12 months, while unit prices rose 13.1 per cent during the same period.
Beaudesert Properties Principal Jamie Douglas said speculation about a housing market crash could lead to misinformation and unnecessary concern among buyers and sellers.
He said buyer behaviour had changed significantly since the pandemic, when strong competition and fear of missing out often drove purchasing decisions.
“When we had Covid, there was the whole fear of missing out and people were buying properties – sight unseen – and they were making offers on properties that might not have necessarily ticked all their boxes,” he said.
Jamie said buyers were now taking more time to assess properties, with less competition in the market than in recent years.
He believes confidence will eventually return, increasing competition among buyers once again.
“People are making decisions based on a budget, not for their family needs, wants, desires into the future,” he said.
“But, I think, what will happen is when confidence increases, everyone’s going to go back into the market in droves … creating that competition again.
“Make decisions based on your family rather than speculation.”
