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Property News

Queensland property market experiences high-end sales

August 20, 2012

The Queensland residential property market has experienced a recent spike in high-end sales, with five homes fetching prices of more than $1 million each in the last month.

According to a Fairfax report, homebuyers were showing a renewed interest in the luxury property market, with houses in Castle Hill, North Ward and Townsville city selling for more than $1 million apiece, as well as one dwelling achieving a $2 million settlement.

Julie Mahoney of Harcourts Townsville, said the latest activity showed that buyers were turning towards higher-value homes in the search for their dream dwelling.

"I actually think it (the high-end market) has improved…particularly this quarter," Ms Mahoney asserted.

"There has also been a lot more inquiry, particularly in the dress quarter…buyers are committing," she added.

And Queensland's healthy market trend continued with auction clearance rates over the weekend showing the buying market is continuing to improve.

Ms Mahoney commented: "More homes are selling under the hammer and we have had some good on-site results."

One agent put the increased market activity down to more professionals moving into the Townsville area - driving high value house sales up.

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