Hous­ing on the up

Port Douglas & Mossman Gazette - - FRONT PAGE -

MO­MEN­TUM is con­tin­u­ing to build in the Queens­land mar­ket with sales ac­tiv­ity and house prices strength­en­ing.

The REIQ Queens­land Mar­ket Mon­i­tor (QMM), re­leased on Mon­day, found the num­bers of sales have in­creased sig­nif­i­cantly com­pared to the pre­vi­ous quar­ter and com­pared to last year.

Ac­cord­ing to the re­port, the pre­lim­i­nary num­bers of house sales across Queens­land in­creased 22 per cent in the June quar­ter com­pared to the March quar­ter.

And the im­prove­ment in the mar­ket is even more pro­nounced when you con­trast it to the same pe­riod last year with sales num­bers up some 40 per cent com­pared to the June quar­ter in 2012.

The Septem­ber quar­ter last year was a par­tic­u­larly strong one for the Queens­land mar­ket and that mo­men­tum has been sus­tained through­out the fol­low­ing three quar­ters of sales ac­tiv­ity.

The Septem­ber quar­ter and the up­com­ing spring sell­ing sea­son is typ­i­cally a great pe­riod for the Queens­land real es­tate mar­ket. And with such good price and sales re­sults for the June quar­ter, as well as his­tor­i­cally low in­ter­est rates, it’s shap­ing up to be an­other strong pe­riod as our mar­ket con­tin­ues to build mo­men­tum.

Over the June quar­ter, REIQ data shows the me­dian house price in Bris­bane in­creased 1.6 per cent to $527,250 and in­creased 3 per cent over the year end­ing June.

Quar­terly me­dian house prices can fluc­tu­ate de­pend­ing on the types of properties that are sell­ing over that three-month pe­riod and this lat­est REIQ data does show some me­dian price vari­a­tions. Over the year end­ing June, how­ever, the ma­jor­ity of re­gions posted pos­i­tive me­dian re­sults which pro­vide a bet­ter bench­mark for price move­ments than quar­terly data-sets.

In­vestor ac­tiv­ity ap­pears to be fi­nally on the in­crease. Af­ter a typ­i­cal slow start to the year, prop­erty in­vestors are start­ing to get back on track in 2013, with the to­tal dol­lar amount loaned to in­di­vid­ual in­vestors for the month of May at its high­est level since June 2009.

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