Agent’s outlook for Lockyer real estate market in 2021
After a year of strong growth, the Lockyer Valley property market looks set to be mixed in 2021. DETAILS:
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As buyers continue to move out of the metropolitan markets, regions including the Lockyer Valley continue to see strong sales growth in house and land prices.
The last six months of 2020 saw “really positive results” for the region, according to Allison Graham, Business Director and Sales Consultant at Gatton Real Estate.
Ms Graham told the Gatton Star she predicted a “continuation” of those strong sales markets in 2021, strengthened by city buyers flocking to the region.
“My prediction is that the regional housing market may outperform the metropolitan housing market (percentage wise) this year,” Ms Graham said.
She said the median house price is expected to rise by at least five per cent in 2021, unless strong COVID restrictions get reimplemented.
Ms Graham said there is a shortage of properties both for sale and rent across the Lockyer Valley.
“While we still have an adequate number of properties listed, we do not have as much variety as pre-COVID times,” Ms Graham said.
The high market demand for “family” homes is not being met Ms Graham said, with that property type (minimum 4 bedroom, 2 bathroom, 2 garage) being in short supply.
As the pandemic continues to place pressure on international students being able to study in Australia, Ms Graham said there had been a reduction in the number of students renting in Gatton.
“There has been a definite reduction in the volume of students this year and last requiring accommodation locally,” Ms Graham said.
The Gatton Star contacted other local agents for their insights, however they were yet to respond.
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