SIGNS POINT TO SOUTH-EAST QUEENSLAND PROPERTY GROWTH

Written on the 21 September 2015

SIGNS POINT TO SOUTH-EAST QUEENSLAND PROPERTY GROWTH

A BOOM in buyer interest and housing supply indicates a spring awakening for the property market in south-east Queensland, according to Raine & Horne.

Raine & Horne Queensland general manager Steve Worrad (pictured) says the real estate group expects property listings to gain momentum this season. 

"Although auction clearance rates were slightly down in the second weekend of September due to marginally lower stock levels, we are achieving strong results for those vendors who have realistic price expectations," Worrad says.

"The number of groups attending auctions was significantly better than our expectations, while there were more registered bidders and sale prices consistently exceeded the reserve.

"On the supply side, we've seen our appraisal numbers pick up by about 24 per cent over the past month from mid-August to mid-September, compared to the July to August period."

Worrad says there is strong demand for apartments in high-rise blocks and units in smaller boutique buildings in Brisbane, with sales and appraisal numbers also up in northern suburbs such as Burpengary, Morayfield, Beerwah and Woodford.

While the northern end of the Gold Coast around Coomera has exhibited growth this month, with buyers flocking to properties priced between $460,000 and $530,000.

Raine & Horne Burpengary Narangba and Raine & Horne Morayfield Caboolture principal Gina Wells says increased investor activity has pushed up sales by 50 per cent compared to the same period last year.

"Investors from the southern states, who've been priced out of the Sydney and Melbourne markets, are leading the charge for real estate in our region," Wells says.

"As a consequence, days-on-market in our region can be less than week, with some properties selling literally before they hit the internet."

Strong sales activity is also pushing up prices by as much as 15 per cent in Burpengary and Narangba, with entry-level houses selling for $320,000 compared to $280,000 six months ago.

Signs are positive in Toowoomba as well, with more owner-occupiers entering the market along with investors.


Latest News

SPOTLESS REJECTS DOWNER'S 'HOSTILE' $1.2B BID AS IT PROMISES A STRATEGY RESET

CLEANING and catering services company Spotless has rejected a $1.26 billion takeover bid from mining services firm D...

EXCLUSIVE INTERVIEW: MEGAPORT CEO VINCENT ENGLISH ON GLOBAL EXPANSION AND HOW TO SCALE UP A BUSINESS

THE RAPID expansion of Megaport (ASX: MP1) continues with the Brisbane-based company announcing a major partnership d...

BRISBANE ENTREPRENEUR BREAKS BARRIERS IN ECO-BUSINESS

TRACEY Bailey believes that if every person understood the true social and environmental cost of every product the...

DOMINO'S PIZZA EMPLOYEES OFFERED A SLICE OF THE PIE

DOMINO'S Pizza (ASX: DMP) has launched an employee share acquisition plan which will give its 26,000 staff the...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter