Property sales grow across south east Queensland

Brisbane isn’t the only property market that has been performing well in recent months, with house sales picking up across the south east, according to the Real Estate Institute of Queensland.

The organisation’s research has revealed that buyers in the south-east of the state are poised to keep purchasing property in the new year.

Among the main areas that attracted considerable interest from buyers were regional centres like Toowoomba, where the median house price has risen 4 per cent this quarter. 

The greater Brisbane area recorded considerable growth, with a 5 per cent rise in house sales in the state’s capital. The Sunshine and Gold Coasts have also recorded strong growth, seeing increases in house sales of 7 and 3 per cent respectively.

REIQ CEO Antonia Mercorella suggested these increases were due to growing positive signs across the housing sector.

“Listing numbers have also begun to improve in many regional centres, a sign that vendors are becoming increasingly confident about current selling conditions,” said Ms Mercorella.

“Average days on market and average vendor discounting have improved markedly in most regional centres, with a number of markets returning to double digit sales growth.”

Vacancy rates also remained steady across the state, with only four major centres recording an increase in vacancy rates. The study also suggested that rental conditions have remained tight across the state.

If you are thinking about purchasing a new residential property, make sure you discuss this with a property lawyer. They will be able to advise on the best way to approach this transaction, along with the legal requirements that accompany this exchange.