Property prices growing in South East Queensland

Property in south-east Queensland is recording the strongest sales growth in the state, according to recent figures released by the Real Estate Institute of Queensland (REIQ) on September 13.

These figures reveal that the Brisbane area has seen the highest growth in property sales seen across the state during the June quarter. The REIQ recorded a 19 per cent increase in the number of properties being sold, with Logan also reaching 18 per cent growth.

The Gold Coast and Sunshine Coast have also recorded strong growth in the number of sales. The Sunshine Coast recorded a 39 per cent increase for the last year, while the Gold Coast reached 10 per cent growth in the June quarter.

These changes aren’t the only positive signs to come out of the REIQ’s recent research, with the organisation predicting strong growth back in August.

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REIQ Acting CEO Antonia Mercorella suggested that there was particularly strong growth at the top end of the buying spectrum.

“Sales in the million dollar plus price point were up 28 per cent across Queensland, with an increase of 20 per cent in the $500,000-plus range,” said Ms Mercorella.

“Million dollar sales in the unit market also strengthened, with preliminary sales numbers across Queensland up around 10 per cent.”

Growth in Brisbane was also strong at the lower end of the market, with sales of houses worth less than $350,000 also growing in number.

While these trends point to strong growth in the Queensland property market, it is still important to get appropriate legal advice when buying and selling a property – even more so if the purchase or sale involves an off-the-plan Contract. At this time, it is important to consult with an experienced property lawyer who can advise you on the process and ensure that the property conveyance is successful.