Unemployment puts a dent in real estate activity: REIQ data

A SPIKE in unemployment levels is believed to be the cause behind a drop in real estate sales across Warwick.

But Warwick Real Estate principal Neil Carney is confident the market is picking up.

"It's certainly not a boom-time by any ways or means," he said.

"Winter is traditionally our slowest time.

"But it will pick up in the next few months."

June quarter figures in the Real Estate Institute of Queensland Market Monitor, due out today, for Warwick, Southern Downs and Stanthorpe show prices are down since the last quarter, but up on last year's figures.

Mr Carney said the major influence on the floundering market was fluctuating employment levels and low business confidence in the region.

He said rural properties had been particularly difficult to sell as struggling landowners' high price expectations were not being met by buyers.

Mr Carney said everyone in the region was praying for rainfall for landowners after what had been a "very poor season".

"I think rural will come back," he said.

One part of the industry that definitely is not struggling is rental.

Mr Carney said vacancy rates were below that state level, at only 2%.

"Vacancy rates have actually tightened in the last six months," he said.

"That's a good indicator.

"We have very affordable rentals in Warwick." - APN NEWSDESK



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