Ensure you never miss an issue of the
real estate business bulletin
Surprise jump in Qld property sales

Surprise jump in Qld property sales

by Reporter 0 comments

Staff Reporter

Sales in the final quarter of 2012 for Queensland were higher than expected, according to the Real Estate Institute of Queensland (REIQ).

“This is the second consecutive quarter where the market has exceeded expectations,” said REIQ CEO Anton Kardash.

“Historically, the December quarter is quieter than the September quarter - and we did have a very strong September quarter last year - but what these figures are showing us is that buyers continue to be more active than the year before.

“There is no doubt that the Queensland market is improving due to the low interest rate environment, increasing confidence levels, an element of pent-up demand, as well as a more settled economic outlook here and overseas.”

The numbers of house sales were up 27 per cent on the Sunshine Coast, 25 per cent in Cairns, and 19 per cent on the Gold Coast compared to the December quarter in 2011.

“Buyers are once again looking at our beautiful tourism regions, perhaps attracted by the lower price-points that are now available in some of these areas,” Mr Kardash said.

The Brisbane median house price increased 0.4 per cent to $510,000 over the quarter – the second quarter of positive price growth.

“Upgrader suburbs in Brisbane did particularly well over the period with many buyers taking advantage of low interest rates to make their move,” Mr Kardash said.

“Unfortunately, however, the numbers of first home buyers active in the Queensland market continues to trend down following the removal of the First Home Owners Grant in October last year.” 

Surprise jump in Qld property sales
lawyersweekly logo
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The rapid growth in cyber attacks within the real estate industry

Any successful agency will swear by the importance of an extensive database and building trust with clients, but with the rise in cyber thre...

View all podcasts

What keeps you awake at night?

The threat from the so-called digital disruptors like the property portals, DIY models and lead generating platforms
Competition from other agents in my local catchment area
Changes in the traditional real estate model and an uncertain future for the industry
The current cooling markets and other economic influencers
Nothing. I back myself to meet the challenges ahead
Do you have an industry update?