Elizabeth Tilley, Property Journalist
First published 30 Oct 2026, 5:00am
Two failed contracts and a growing reluctance among buyers to sell their existing homes have put Brisbane couple Jo and Steve Williamson’s acreage dream on hold.
The pair have been trying to sell their extensively renovated Albany Creek home since July, attracting plenty of interest and offers in the low-to-mid $1.5 million range.
But one contract collapsed over finance and another fell through when the buyers couldn’t sell their existing home.
Jo and Steve Williamson are selling their family home in Albany Creek. Photo: Steve Pohlner.
Jo and Steve Williamson in their beautifully renovated home in Albany Creek. Photo: Steve Pohlner.
Their asking price has since been reduced from $1.595 million to offers over $1.475 million.
Selling agent Simon Whitehead, of Place Estate Agents, said buyers were increasingly reluctant to commit to a purchase, even when they had substantial equity and bridging finance approved.
“A lot of buyers I’m seeing have bridging finance approved, but they’re worried they’ll buy now and sell their existing home for less than it’s worth,” Mr Whitehead said.
Even those with strong equity and good incomes were scared to jump in and buy, he said.
Mr Whitehead said contracts subject to the sale of another property were becoming increasingly common, creating uncertainty for vendors and holding up transactions.
This four-bedroom house in Albany Creek is on the market and has been extensively renovated.
He said agents were also having more difficult conversations with sellers about realistic price expectations.
“At the start of the decline, they’d say, ‘Oh, it will bounce back’,” he said.
“Now I’m sitting in front of clients who are hoping for $1.5 million, but that’s not going to happen. It might be $1.35 million to $1.45 million.”
Mr Whitehead said selling conditions were approaching levels he had not experienced since the 2011 Brisbane floods.
One Ferny Hills property he had sold five times previously spent 134 days on the market in 2011 and had now been listed for 120 days.
Inside the house at 1 Gregory Pl, Albany Creek, which is for sale.
For Mrs Williamson, the experience has been vastly different from previous property sales.
“We haven’t had a lack of buyers. We’ve had multiple contracts that haven’t completed,” she said.
“I think it’s a combination of things and people being more cautious with their spending.
“It’s just different to previous homes we’ve sold. They’ve sold so fast. The open homes are quieter.”
After a decade renovating their family home, the couple are hoping to move to acreage, but need to achieve a sufficient sale price to fund their next purchase.
“We’ve had so much beautiful feedback. We’re hoping it’s third time lucky,” Mrs Williamson said.
This four-bedroom house in Albany Creek is on the market for offers over $1.475m.
The Williamsons bought the 744sq m property a decade ago when it had been a long-term rental in need of some attention, and have since transformed it into a private tropical retreat.
Mr Williamson has tackled an extensive list of renovation projects, including a custom-built mudroom, dining nook and bar, while the home also features multiple living areas, lush landscaped gardens, a resort-style lagoon pool and handcrafted outdoor shower.
During Covid, the couple even converted part of the downstairs area into a dance studio for their daughter, a full-time ballerina, before later turning it into additional living and bedroom accommodation.
With only one child still at home, Mrs Williamson said they were ready for a simpler life on acreage, but needed to achieve a certain sale price to make their next move possible.
Help us improve your reading experience
Got a minute? Your feedback will help us build a better experience for you.
