Market/Finance News Blog: Queensland house sales increase

By the resi financial blog team, 25 February 2014

Queensland house sales up

Queensland saw an increase in the number of homes being sold during the final quarter of 2013, which has continued well into the new year and could highlight a great opportunity for property investors to secure their finances and get into a thriving market. 

House sale figures for Queensland peaked over the last three months of the year, as well as recording healthy price increases across the board. The Real Estate Institute of Queensland (REIQ) recently released the December Quarter Median House Price report, which indicated the quarter was one of the healthiest in years. 

In fact, REIQ Chief Executive Officer Anton Kardash said the quarter was the third strongest in as many years, which was made even more impressive by the lack of "extraneous stimulus measures". 

"Our most recent peak was in September 2012 when the return of stamp duty concessions underpinned the increased sales activity. However, the strength of this latest quarter was a direct reflection of our improving market and growing confidence levels," said Mr Kardash in a February 21 statement. 

He said that while the September quarter was historically recorded as the period with the highest number of sales, last December's quarter surpassed this period with just shy of 10,000 sales for the three-month period. 

"This was the case across most major regions of the state which is a further signal that our market is well into its next growth phase," said Mr Kardash. 

Furthermore, the strength of the market is further encouraged by the decreasing number of days properties are spending on the market before being successfully sold. The average across Brisbane was recorded at 74 days. 

With this amount of growth occurring in one of Australia's strongest economies at the moment, now could be the perfect time to consider taking out an investment loan and expanding your property portfolio into the Sunshine State.

Categories: Home Loans