The Sunshine State Is In High Demand
Queensland’s residential property market experiences strong quarter.
< 1 min
Across Queensland, median house prices climbed 1.8% over the quarter with Greater Brisbane and tourism hotspots proving the most appealing.
Brisbane achieved the highest number of house sales over the quarter according to data from the Real Estate Institute of Queensland (REIQ), with 3912 sales. This was followed by the Gold Coast (2,419), Moreton Bay (1,945), Sunshine Coast SD (1,510), Logan (1,413) and Ipswich (1,366).
Brisbane’s median house price rose by 4.7% over the quarter, reaching a new high of $900,000. The new figures represent a 15.5% growth compared to 12 months prior.
Despite the rise, Greater Brisbane still remains affordable with the capital city outskirts experiencing a lesser 2.8% quarterly increase to a median house price of $640,000.
Noosa was the clear stand-out with 13% growth in the quarter. However, the holiday-town couldn’t match its previous efforts of 19.8% growth in the June 2021 quarter.
Ipswich (8.7%), Redland and Fraser Coast (both at 6.5%), and Bundaberg (6.4%) followed on to round out the top five fastest-growing local government areas.
Noosa also took the top spot for the highest quarterly median sale price at $1.3 million — $400,000 above the state’s next best performer Brisbane at $900,000, Sunshine Coast SD at 850,000, Sunshine Coast at $825,000 and Gold Coast at $810,500.
It’s not only houses on the rise as Queensland’s median unit prices rose 3.5% over the quarter.
Local government areas such as Mackay (17.4%), Sunshine Coast 12.1%) and Sunshine Coast SD (11.1%) all saw double-digit growth in the quarter.
Greater Brisbane experienced moderate median unit price growth at 1.8 per cent to reach $420,000.
Coastal areas garnered the highest unit prices with Noosa ($850,000), Sunshine Coast SD ($600,000), Sunshine Coast ($560,000) and Gold Coast ($510,000) at the top of the charts.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Scheduled auctions fall to winter levels as vendors hold back on going to market
< 1 min
Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.
The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.
With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
