Examining the June quarter, the Queensland Market Monitor has revealed the state’s house prices are proving strong, “reflecting the state’s ongoing consistent growth and highlighting the state’s resilience when compared with more volatile markets, such as Sydney and Melbourne”.
“Real estate experts and commentators have been predicting an upward swing within the Queensland property market for [sometime] now,” said REIQ CEO Antonia Mercorella.
“Subtle changes in market activity are beginning to indicate that those forecasts may be coming to fruition.”
Ms Mecorella said Queensland continues to provide relative housing affordability, offering property owners “more bang for their buck”.
“As a result of its livability and value for money, Queensland’s internal migration rates remain the strongest in the country,” she said.
“Those consistently high numbers of residents choosing to relocate to Queensland from the southern states will no doubt see the local population skyrocket, pushing supply down, and in turn, driving prices upwards.”