Property sales up in Qld

QUEENSLAND has toppled NSW and Victoria for the first time ever with the highest number of property settlements in the country, latest quarterly figures show, as Covid-19 lockdowns drive buyers north.

More than 59,000 property sale settlements worth more than $42 billion were processed in Queensland during the September quarter, according to the latest Property and Mortgage Insights report by digital property settlement platform PEXA.

In comparison, NSW saw more than 58,000 sale settlements while Victoria had more than 56,000 during the quarter.

Queensland was also the only mainland state that saw sale settlements rise over the previous quarter, PEXA Insights head of research Mike Gill said.

“It is very rare for Queensland to see more sale settlements than the more populated states,” he said.

“Settlement volumes in both New South Wales and Victoria have clearly been impacted by extended lockdowns resulting in declines for the September 2021 quarter.”