Midyear state of affairs: A closer look at the country’s markets
With market conditions changing at varying degrees across the country, seven experts from Property Investment Profession...
The sales sector in Queensland's south east corner is going from strength to strength, with impressive results in Brisbane, the coasts and Toowoomba regions.
According to new data from the Real Estate Institute of Queensland (REIQ), Brisbane median values climbed 1.9 per cent in the June Quarter and 6.6 per cent over the last 12 months.
Average vendor discounting is down from 8.9 per cent in June last year to 5.6 per cent this year.
In the same time period, days of market have dropped by from 90 to 59.
The outer suburbs are also on the rise – over the three months to June, values rose by 1.9 per cent in Logan, 0.7 per cent in Moreton Bay and 1.9 per cent in Redlands.
REIQ acting CEO Antonia Mercorella said Brisbane buyers appeared to be gaining confidence heading into the spring season.
“These are the figures many vendors have been waiting for – much shorter days on market, significantly reduced vendor discounting and increased buyer competition,” she said.
Tourism regions in the south east are also performing well.
TheCoast has recorded growth of 1.9 per cent for the quarter and 6.2 per cent for the year, while the Gold Coast is up by 1.9 per cent for the quarter and 7.5 per cent for the year.
“Following a period of challenging conditions, the Gold and Sunshine Coasts are also starting to bounce back as buyers in both markets grow more confident,” Ms Mercorella said.
Further inland, Toowoomba is up by two per cent in the three months to June and 8.1 per cent over the last 12 months.