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REIQ: More people buying a house in Queensland

On Feb 18 2013
Tagged as:
  • QLD


More people are buying a house in Queensland, according to new statistics, with the residential ...

More people are buying a house in Queensland, according to new statistics, with the residential real estate sector showing robust activity in the 2012 December quarter.

The Real Estate Institute of Queensland (REIQ) revealed sales increased eight per cent during the three-month period, when compared with the same quarter in the preceding year.

Anton Kardash, chief executive officer at REIQ, said the data was encouraging, particularly as the Christmas season is traditionally quiet.

He remarked: "This is the second consecutive quarter where the market has exceeded expectations.

"There is no doubt that the Queensland market is improving due to the low interest rate environment, increasing confidence levels, an element of pent-up demand, as well as a more settled economic outlook here and overseas."

Sales activity increased in several regions across the state, including a 27 per cent increase on the Sunshine Coast and a rise of 19 per cent on the Gold Coast, when compared to Q4 in 2011.

Mr Kardash said the improved performance was most noticeable in these areas due to their attractiveness as tourism destinations.

Several cities also experienced an upward lift in median house prices, with Toowoomba and Mount Isa enjoying 6.2 per cent and eight per cent increases respectively.



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