Houses continue to outperform units in Queensland

“The regions where houses outperformed units by the greatest margin were Logan and Toowoomba at 5.5 per cent and 4.5 per cent, respectively,” the REIQ report said.

“However, units managed to outperform houses the most in Noosa and Mackay at 3.4 per cent and 3.5 per cent, respectively.”

In addition, the REIQ noted that annual listings for Queensland’s housing market decreased by 1.6 per cent over the year from 105,015 listings in September 2018 to 103,371 listings in September 2019.

“Regions that experienced the largest increases in house listings for the year were Ipswich, Gold Coast and Mackay,” REIQ said.

“The number of Mackay house listings grew 23.2 per cent from 2,422 in September 2018 to 2,985 in September 2019.”

While the total number of house listings were up for Queensland, presenting more options for potential buyers, REIQ added that days on market increased from 45 to 56 days and the median vendor discount grew by 0.6 per cent.

“The quickest selling region was Brisbane LGA at 37 days on market for houses to reach contract of sale, while Rockhampton was the slowest selling region at 69 days,” it said.

“Sunshine Coast LGA offered the smallest median vendor discount of 4.3 per cent, closely followed by Moreton Bay at 4.4 per cent, while Rockhampton offered the largest vendor discount of 9 per cent.”