Boom times not over for property owners

Property prices are expected to keep rising in parts of Queensland – including the Gold Coast, according to a new report signalling the boom is not over for homeowners.

The latest Herron Todd White (HTW) month-in-review report shows prices in 11 Queensland markets are still rising, or at their peak.

Low vacancy rates, high buyer and renter demand and damage to properties as a result of recent natural disasters have combined to create a perfect storm of pressure on the Queensland property market, the report says.

No housing or unit markets were considered to be “declining markets” while Brisbane, the Gold and Sunshine coasts are still at the “start of recovery” after the downturn in 2022 and monthly price rises since then.

HTW Brisbane director David Notley said they believed that the market momentum established late last year would continue – a plus for those already holding property – and it would not be surprising if price and sale volume records tumbled in Brisbane this year.

“This trend of demand outstripping supply is well established, and it’s not going away any time soon,” he said.

“Our population is booming with a swath of interstate arrivals coming to resettle here.”

“We already enjoy disproportionate rates of population growth compared to other states and territories, but throw in the record numbers of overseas immigrants and returning expats coming to Australia, and you can see that things won’t slow down.”

Brisbane home values rose another 0.17 per cent in January to reach a new peak of $794,000.