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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

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

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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.

“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.

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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 executive editor – Real Estate at Momentum Media. He is also an investor with a large property portfolio.

He leads the content strategy and corporate growth for a range of market and business intelligence platforms at Momentum Media, including Smart Property Investment – the authoritative voice for Australia’s property investment community.

As head of the Smart Property Investment Podcast Network, he also steers the largest network of property podcasts in Australia, which collectively generates nearly 2 million downloads every year.

There are over 2.6 million investment properties in Australia, with over 2.1 million Australians (or around 8 per cent of all Australians) owning one or more investment properties. A vibrant and critical sector for creating wealth for Australians, the property investment sector is expected to remain a pillar to the national economy.

For nearing a decade, under Phillip’s stewardship Smart Property Investment has been informing and educating property investors on the tactics and strategies to create wealth through property.

Trusted by over 100,000 Australians each month as the turn-to independent resource for property market insights and information, the brand supports the mantra of "for investors", by investors’, drawing on the unique position that Phillip and Smart Property Investment share, warts and all, its own journey through property.

The Smart Property Investment Show, part of the Smart Property Investment Podcast Network, is one of Australia’s most popular podcasts, forming the keystone of an integrated digital platform delivering daily property updates, live broadcasting, insights, opinion and data to property investors across the nation.

Underpinned by a content team universally recognised for their knowledge of the sector and approach for clear and concise communication, Smart Property Investment has become a central part of Australia’s property community.

About Momentum Media

Momentum Media is a leading media and market intelligence company, and the business behind Smart Property Investment, REB and RPM.

Guided by a strong sense of purpose to support our communities, Momentum Media has forged its place as one of Australia’s most influential media and professional development businesses.

We have been equipping Australia’s corporate, investor and SME sectors with market and business intelligence for over a decade.

Across an integrated business supported by digital, events, broadcast, research, print and social platforms, we are guided by the purpose: Be Better informed.

This passion for informing, educating and inspiring drives us to build more engaged communities, delivering greater leadership to the markets we connect to and forging closer relationships with our audiences.

Being at the forefront of media innovation, backed by a pioneering spirit, has been central to Momentum Media’s growth.

We’re an evolving, forward-thinking business based on a purpose that supports corporate Australia and the markets critical to our nation’s economic prosperity and security. We’re also focused on delivering exceptional value to our commercial partners.

We adapt on a daily basis to rapidly changing market places; we’re a fluid media business, unanchored to any particular technology, channel or tone of communication.

With a reach spanning nearly 2 million professionals, high-net-worth individuals and SME business owners, we’re connected to the rapidly changing preferences and attitudes of our communities – and we’re making a positive contribution for our communities to thrive.

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