Property Market Information: Sales activity across Queensland skyrockets

By the resi financial blog team, 18 September 2014

Queensland property

The latest release from the Real Estate Institute of Queensland (REIQ) has found property sales across the state experienced a large boost  over the June quarter, which could be encouraging for those seeking loans for first time buyers in the near future. The REIQ Queensland Market Monitor for this three month period found a 37 per cent increase in the number of vacant land sales, with varying degrees of growth seen for detached houses, units and townhouses.

REIQ Acting Chief Executive Officer Antonia Mercorella said sales in the million dollar market were up by 28 per cent across the state, while the $500,000 price range saw the number of sales rise by 20 per cent over the three month period. 

"The Brisbane Local Government Area led the charge with an increase of 19 per cent, closely followed by Logan, which was up 18 per cent. Brisbane's unusually robust winter sales look set to be replicated in a number of real estate markets throughout the State amid increasing demand, sales volumes and prices," said Ms Mercorella in a September 13 statement. 

"On the Gold and Sunshine Coasts, sales activity remained relatively stable over the quarter amid rebounding confidence in both markets. The Gold Coast median house price rose three per cent to $515,000 over the June quarter, with median prices on the Sunshine Coast up 0.2 per cent to $468,000." 

Across Brisbane, units and townhouse sales rose by 20 per cent, with the Sunshine Coast also seeing strong upward trajectory of sales up by 39 per cent over the last 12 months. With high sales activity expected to continue into the future - especially with the retained cash rate - now could be a brilliant time to get in touch with a financial expert and discuss your home loan options for the future. 

Categories: Home Loans, Personal Finance