As we come into the festive season, recovery in Queensland looks to extend beyond the drinks and new year celebrations. New data from the REIQ (Real Estate Institute of Queensland) Queensland Market Monitor report reveal a new median house price for Brisbane. The report indicates the new median house price to be $615,000 for the September quarter. This is an increase of $5,000 in months, when compared to the June 2015 quarter.
REIQ CEO, Antonia Mercorella, explains that Brisbane’s market was leading the state’s recovery.
“Confidence in the residential house market is growing with sales activity up over the quarter across almost all southeast Queensland regions.”.
The standout performer across the South East and tourism areas was Ipswich, with its house sales over the quarter increased by 12 per cent in comparison to the overall trend in house listings up 3.6 per cent. Cairns also performed strongly over the quarter, with both house sales and house listings up, providing proof points of an overall feeling of confidence that the improving tourism industry has provided the region with new-found confidence.
“It’s been difficult for areas of the state that were heavily reliant on mining to find their feet, but we’re starting to see indicators that suggest we are heading towards firmer ground,” she said.
A market increase in prices for Cairns properties like this suggest that an improving tourism industry is having positive effects on its real estate market. House listing numbers across the southeast and the tourism centres are also up, with Ipswich the standout performer. Here is an Ipswich property on the market which caught our eye.
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