Tourism hotspots were the star performers of the March quarter in Queensland.
Data released by the Real Estate Institute of Queensland (REIQ) shows coastal towns with large tourism industries experienced the largest growth in median price.
Cairns recorded the strongest results in the state, with the town’s median house price increasing by 5.6 per cent over the quarter.
“Cairns is performing strongly as investors return to the market, buoyed by growing confidence in Queensland’s tourism regions,” REIQ president Anton Kardash said.
According to Mr Kardash, this trend was also causing the Gold andCoasts to gather pace.
“Properties are changing hands quicker and prices are recording steady increases,” he said.
Prices in the Gold Coast rose by 4.2 per cent over the quarter, the fourth consecutive monthly increase.
Growth in the Sunshine Coast was more moderate, with the median rising by two per cent.
The popular Fraser Coast also saw solid results, with the median price increasing by 2.9 per cent.
Rockhampton saw prices rise by three per cent, while Townsville was up two per cent.
By comparison, prices were largely stagnant in Brisbane. The median shifted up by just 0.4 per cent to $560,000.