First Home Buyers & Downsizers Active in Chermside Real Estate Market

Chermside median house price
Photo credit: Google Earth

The REIQ recently reported the latest housing market statistics which showed Chermside median house price reaching $611,000, a 4% increase over the last 12 months and an increase of 34.3% over the last 5 years. In the 2nd quarter of 2018, there were 12 homes sold in the suburb.

Meanwhile, neighbouring suburb Chermside West’s annual median sale rose to $590,000, marking a 5.4% increase over the previous year and 37.2% in 5 years. As of the end of the 2nd quarter of 2018, there were 15 houses sold in Chermside West.

Chermside agent Adrian Graczyk of Graczyk Thompson says: “In our experience over the past 12 months, the majority of properties we have sold in Chermside are being purchased by first home buyers or downsizers, with first home buyers taking advantage of competitive pricing across new apartments, while downsizers are actively making the switch from a home to a large three bedroom apartment close to shops and the hospital. In either case, size and quality of finish are the most important to everyone.”