The REIQ, which is the industry lobby group for real estate agents in Queensland, issued a press release today regarding Queensland house prices. Note that this relates only to houses, and not apartments or units. An extract from the press release:
One year on from the floods and Cyclone Yasi, the Queensland residential property market has stabilised,
according to the Real Estate Institute of Queensland (REIQ). The REIQ December quarter median house price report found property prices in South East Queensland
recording mostly steady results, while the strong resources sector is driving demand and price growth in
Central Queensland and the Darling Downs.
Over the December quarter, the median house price in Brisbane recorded a negligible fall of 0.2 per cent
to $499,000 - the lowest fall in our capital city’s house price since September 2010. Across Queensland, investor and first home buyer activity continues to strengthen with buyers
recognising that prices have plateaued in many areas. REIQ CEO Anton Kardash said the improving results showed that our state had begun to move on from
2011.
‘‘Last year was a very tough one for everyone in Queensland with the series of natural disasters having a
drastic impact on our economy as well as on confidence levels overall,’’ he said. ‘‘With the first anniversary of these events now passed, it certainly appears that Queenslanders are
feeling more optimistic about the future and this is starting to have a positive effect on our property
market. While it was too soon for the two interest rate reductions in November and December last year to be
reflected in these results, we anticipate more positive news on our property market in the months ahead
as these rate cuts flow through our wider economy.’’
"House Prices in Queensland"
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