The Queensland property has turned the corner and begun to stabilise according to the Real Estate Institute of Queensland (REIQ).
In last week’s press release, the institute noted that over the December quarter, the median house price in Brisbane recorded a negligible fall of 0.2 per cent – the lowest fall in the city’s house price since September, 2010. The REIQ also reported increased investor and first home buyer activity across Queensland with buyers recognising that prices have plateaued in many areas.
REIQ CEO Anton Kardash said the improving result showed the state had begun to move on from from 2011. “Last year was a tough one for everyone in Queensland with the series of natural disasters having a dramatic impact on our economy as well as on confidence levels overall,” he said.
Contact us for a copy of the full release.