Sunny Coast shows steady growth

Queensland property has been a consistently popular performer, according to quarterly median sales results released by the Real Estate Institute of Queensland (REIQ) in September.

The June 2023 quarter (April – June 2023) revealed that many of the Sunshine State’s property markets remain strong, with statewide median house prices rising by 4.62 percent over the quarter, and median unit prices lifting 3 per cent.

Taking a broader view and comparing Queensland’s annual figures, the state saw substantial year on year growth of 5.26 percent for houses, and 6.91 percent for units.

Queensland’s annual median house price reached $650,000, and its annual median unit price remained just under half a million dollars ($495,000), but reached a record $510,000 in Brisbane.

REIQ CEO Antonia Mercorella said contrary to commentary that property prices would go ‘belly up’, the data showed overall Queensland property is delivering sustainable growth.

“The dust has settled and we’ve returned to a much more stable sales market, with steady growth for owners and more time for buyers, and that’s a great market to be in,” she said.