Homes in Queensland are continuing to sell in high numbers, with the state leading for sales of detached homes – freestanding houses that occupy a single plot of land – in the latest figures from the Housing Industry Association (HIA).
According to the most recent figures from November of last year, the number of houses being sold across the state has reached double-digit growth. The study revealed that Queensland’s detached home sales have risen by 14 per cent in the month.
While this growth is impressive in itself, it is further compounded by the figures seen in other states. Only two other jurisdictions recorded growth in housing numbers – Victoria and South Australia. These two markets recorded 4 per cent and 0.3 per cent growth respectively.
Every other state in the country saw a decrease in the sales figures for detached homes, with Western Australia seeing the largest drop at -10.8 per cent.
This increase in demand for detached homes is also a stark departure from the figures recorded throughout 2014, when apartment sales were seeing considerable growth. This shift therefore reflects a significant swing away from multi-unit residential and towards detached homes.
Warwick Temby, HIA’s Queensland executive director, suggested this shift was also being supported by an increasing number of planned properties receiving approval from the Queensland government.
“Detached home approvals grew by 30 per cent in Brisbane, 51 per cent on the Gold Coast and 43 per cent in the Sunshine Coast,” said Mr Temby.
“As more serviced land comes onto the market during 2015, HIA would expect the detached home sector to improve further.”
If you are looking to sell a property in Queensland and need advice navigating the sales process, make sure to consult with a property lawyer. They will be able to provide a greater level of information on the correct steps to complete this process in order to maintain legal compliance.