House prices stay steady

The Courier-Mail - Property - - MARKETOUTLOOK - REIQ chair­man Pamela Bennett

THE REIQ June quar­ter me­dian house price re­port found house prices re­mained steady in the face of lower sales ac­tiv­ity across the state.

Many buy­ers re­mained on the side­lines over the pe­riod as they waited for the re­turn of the Prin­ci­pal Place of Res­i­dence con­ces­sion on stamp duty to be re­in­stated on July 1.

The me­dian house price in Bris­bane de­creased 1 per cent to $500,000 over the June quar­ter. The num­bers of pre­lim­i­nary house sales were down about 10 per cent com­pared to the March quar­ter.

A num­ber of Bris­bane’s sub­urbs per­formed well over the June quar­ter.

As­p­ley recorded me­dian house price growth of 8.5 per cent to $510,000 over the quar­ter and was also up 8.1 per cent over the year. This was partly due to an in­crease in the sale prices of av­er­age, or mid­dle-ofthe-road, prop­er­ties.

As­p­ley is ap­prox­i­mately 13 kilo­me­tres north of the Bris­bane CBD. Ac­cord­ing to sub­urb pro­files on reiq.com, the ma­jor­ity of hous­ing is in the form of de­tached dwellings with lim­ited town­house and apart­ment developments.

There is a wide va­ri­ety of hous­ing which ranges from two-bed­room weath­er­board houses to larger, mod­ern brick res­i­dences.

The June quar­ter data also showed Run­corn’s me­dian house price in­creased 7.4 per cent to $440,500 and was up 2 per cent over the year.

Run­corn is about 19km from the Bris­bane CBD and is a pop­u­lar sub­urb with young and es­tab­lished fam­i­lies.

Neigh­bour­ing Sun­ny­bank Hills, Kuraby and Eight Mile Plains have a fam­ily fo­cus seen in the walk and bike ways avail­able in a num­ber of lo­cal parks, and the lo­cal soc­cer and base­ball fields.

Steady de­mand for hous­ing in the area has seen ex­ten­sive town­house developments around Run­corn in re­cent years. De­spite this, hous­ing in the lo­cal area re­mains pre­dom­i­nantly sin­gle-de­tached dwellings with cham­fer­board and brick and tile houses the most com­mon ar­chi­tec­tural styles.

An­other Bris­bane sub­urb to record healthy me­dian house price growth over the June quar­ter was Mans­field, with a me­dian price in­crease of 7.6 per cent to $476,250.

Ac­cord­ing to reiq.com, Mans­field is char­ac­terised by lowset weath­er­board houses with tra­di­tional Aus­tralian back­yards 13km south­east of the CBD.

The ma­jor­ity of the dwellings were con­structed of tra­di­tional weath­er­board in the 1940s, 50s and 60s.

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