20 Sep Queensland’s Property Market Shines: A Glimpse at the Latest Trends
Queensland Property keeps proving itself to be a shining performer. According to the quarterly median sales results released by the Real Estate Institute of Queensland (REIQ).
The June 2023 quarter (April – June 2023) revealed that many of the Sunshine State’s property markets remain in an enviable position, with statewide median house prices rising by 4.62 per cent over the quarter and median unit prices lifting 3 per cent.
Taking a broader view and comparing Queensland’s annual figures, the state saw substantial year on year growth of 5.26 per cent for houses and 6.91 per cent for units. Bundaberg stood out as the strongest unit market performer for quarterly growth at 15.45 per cent based on 58 sales. This was followed by Ipswich (8.48%), Noosa (4.39%) Gladstone (6.38%) and Fraser Coast (4.88%). Throughout greater Brisbane, which had an annual median unit price of $480,000, annual median days on the market remained relatively steady, fluctuating only a few days up or down. I
In Queensland’s tourism centres, however, some sale campaigns doubled in length. The longest lengths of time to contract were seen in regional Queensland with Gladstone (62 days), Mackay (54 days), Townsville (49 days) and Rockhampton (45 days).
As the latest data from the Real Estate Institute of Queensland illustrates, the Queensland property market continues to radiate strength and resilience. With impressive quarterly and annual growth figures, it’s evident that many regions within the Sunshine State are thriving. Whether you’re an investor, homeowner, or simply intrigued by real estate trends, Queensland’s property market remains an intriguing and dynamic sector to watch.
As we move forward, it will be fascinating to see how this enduring performance shapes the future of Queensland’s real estate landscape.