The March 2017 edition of the REIQ Market Monitor has just been released.
The opening paragraph reads, “The most dominant trend in Queensland’s housing market this quarter was the significant rise in listings throughout most (although not all) markets. Listings have jumped in some markets as much as 100 per cent. This has served to dilute demand in some areas where increasing buyer numbers were beginning to build some pressure. More broadly, Queensland continues to run as a two-speed housing market, with regional Queensland facing continued challenges north of the Sunshine Coast – with the exception of Cairns, which is performing very well – while the southeast corner exhibits steady, sustainable growth.”
A quick snapshot of the findings:
- Listings up and first $2 million median price suburb
- Increased investment from south of the border anecdotally in the south east due to perceived affordability
- In the south east, the Gold Coast and the Sunshine Coast were the strongest performers in the quarter
- For the Brisbane LGA, median price growth is up 4% to $650,000
- Brisbane LGA now has 15 million dollar suburbs and the first $2 million suburb – Teneriffe
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