Queensland property continues to increase in value over June quarter

By the resi financial blog team, 27 August 2013

Queensland property prices up in 2013

Property in Queensland is experiencing an upturn in momentum, according to the latest median house price report for June that was released last week (August 23).

The report outlines that the preliminary number of house sales across the state increased 22 per cent in the June quarter when compared to the March quarter.

These improvements are even more impressive when contrasted with the same period 12 months ago, with the number of sales increasing by 40 per cent over the June quarter in 2012.

This is the fourth consecutive quarter of growth to be recorded for Queensland.

Anton Kardash, the chief executive officer of the Real Estate Institute of Queensland, said that the last September quarter was particularly strong, and the momentum from then has continued to spur the market along effectively.

"The June quarter historically yields the lowest numbers of residential sales activity during the year but this data shows house sales are notably much higher compared to the same three months in 2012," said Mr Kardash in an August 23 statement.

"The September quarter and the upcoming spring selling season is typically a great period for the Queensland real estate market.

"And with such good price and sales results for the June quarter, as well as historically low interest rates, it’s shaping up to be another strong period as our market continues to build momentum."

For example, the number of house sales in Brisbane increased over both the last quarter and this time last year, with increases of 32 per cent and 44 per cent respectively.

Furthermore, the median house price increased by 1.6 per cent over the June quarter, bringing it to a relatively high $527,250 overall.

This continued growth could indicate a fantastic opportunity for property investors, with the potential for growth to continue into the future. 

Categories: Home Loans, Property Investment