QLD recovery underway
research

QLD recovery underway

By webmaster

Queensland’s residential property market is showing signs of steady recovery after several months of flat market performance, new research has found.

The Real Estate Institute of Queensland (REIQ) June quarter median house price report shows preliminary sales numbers for Brisbane increased seven per cent over the June quarter.

However, the median house price in state’s capital decreased one per cent to $510,000 over the same period.

REIQ managing director Dan Molly said economic uncertainty and low consumer confidence is likely to underpin the market for the remaining part of the year.

“The Queensland property market continues to be impacted by lower consumer confidence and the uncertain nature of the global economic situation, including the recent pronounced stock market jitters around the globe,” he said.

“The number of buyers active in the Queensland marketplace is still well below long-term averages and until there is more certainty surrounding interest rates and the global financial landscape generally this circumstance is unlikely to turnaround before next year.”

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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
SOLDIERS POINT 48.92%
2.
BLUE BAY 43.96%
3.
BERKELEY VALE 42.74%
4.
LEMON TREE PASSAGE 42.55%
5.
NORTH NARRABEEN 40.19%
QLD recovery underway
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