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State of Markets – QLD January 2012

02 JAN 2012 • By Phillip Tarrant • 3 min read • Hotspots

Essential information, plus expert insight on what is shaping the national property market...

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QUEENSLAND

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Queensland vacancy rates drop
Queensland’s vacancy rates have recently tightened, according to the latest Real Estate Institute of Queensland (REIQ) figures.

The REIQ’s September residential rental survey found that the small number of investors in the Queensland property market put a strain on supply between June and September this year.

“The recent interest rate cut, as well as soft property prices, are likely to make investment property a more attractive proposition for investors, so we will hopefully see more activity from this type of buyer in coming months,” REIQ managing director Dan Molloy said.

“Many renters are also opting to stay put, perhaps due to the ongoing economic uncertainty, which is also [having] an impact on supply.”

Vacancy rates were recorded at less than two per cent in five local government areas.

Tourism centres, including the Gold, Sunshine and Fraser Coasts, are also experiencing an oversupply.

In the outer suburbs there was a small increase in supply due to new developments and renovated flood-affected properties becoming available to renters.

Brisbane house prices plummet
Brisbane house prices saw the biggest drop of the state capitals over the September quarter, according to the latest figures from the Australian Bureau of Statistics (ABS).

The ‘House Price Indexes: Eight Capital Cities’ for the quarter found the Queensland capital’s house prices fell by a significant 2.5 per cent.

The city’s median figure dropped across almost all price brackets.

Australia-wide, a decrease was reported across all capital cities in the quarter, with an average drop of 1.2 per cent.

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“Preliminary estimates show that the price index for established houses for the weighted average of the eight capital cities decreased by 2.2 per cent in the year to the September quarter 2011,” the ABS report said.

Sydney reported the smallest decrease, at 0.2 per cent over the past three months and 0.3 per cent over 2011.

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Phillip Tarrant

Phillip Tarrant

AUTHOR

Phillip Tarrant is one of Australia’s leading property commentators, with more than a decade at the forefront of conversations shaping the nation’s property investment market.

As the long-time host of the Smart Property Investment Show and a regular commentator across property, finance and business, Phillip has interviewed thousands of investors, economists, advisers, brokers, agents and industry leaders, giving him a unique perspective on the trends, policies and market forces influencing Australian property.

Beyond property commentary in the media, Phillip is an active property investor himself, with first-hand experience building and managing a diversified property portfolio across multiple markets and cycles. His insights combines this practical investor perspective with deep exposure to the broader property and financial services ecosystem.

Phillip is also CEO and co-founder of Managed, an Australian property payments and technology platform transforming the way property managers, landlords and tenants manage rental payments and property transactions.

Through his writing, podcasts and industry engagements, Phillip focuses on cutting through market noise, challenging conventional thinking and helping investors make more informed, strategic decisions. His commentary regularly explores property markets, lending, taxation, regulation, investment strategy and the changing dynamics of Australia’s housing sector.

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