REIQ data shows QLD house sales up at the end of 2012
THE final three months of 2012 were unusually good for much of Queensland's real estate market, with a rise in median house sales prices.
But despite good gains in regions such as Mackay, Gladstone and Toowoomba, regional sales figures were varied, a report from the Real Estate Institute of Queensland shows.
The report revealed the numbers of house sales in Queensland rose by 8% in the December quarter, compared with the same period in 2011.
REIQ chief executive Anton Kardash said the data showed the second half of 2012 was a period of improvement, with two consecutive quarters of growth in numbers of sales.
"Historically the December quarter is quieter than the September quarter - and we did have a very strong September quarter last year - but what these figures are showing us is that buyers continue to be more active than the year before," he said.
"There is no doubt that the Queensland market is improving due to the low interest rate environment, increasing confidence levels, an element of pent-up demand, as well as a more settled economic outlook here and overseas."
Several regions experienced a substantial jump in activity compared to the previous year and this was especially true of Queensland's tourism centres.
The numbers of house sales were up 27% on the Sunshine Coast, 25% in Cairns, and 19% on the Gold Coast compared to the December quarter in 2011.
"Buyers are once again looking at our beautiful tourism regions, perhaps attracted by the lower price-points that are now available in some of these areas," Mr Kardash said.
When it comes to median house prices, Toowoomba posted price growth of 6.2 per cent to $308,000 over the quarter.
Mount Isa also did well, recording a median price increase of 8 per cent to $370,000.
But not all regions felt the growth, with media house sales figures falling 8.8% in Bundaberg to $330,000 and the same figure falling 27.9% in Cairns during the December quarter.
The Brisbane median house price rose 0.4% to $510,000 over the quarter - the second quarter of positive price growth.
Regional Median House Sales figures:
- Sunshine Coast: $500,000; up 1% on Sept Qtr; down 5.1% on year
- Toowoomba: $459,000; up 10.1% on Sept Qtr; up 1.2% on year
- Bundaberg: $330,000; down 8.8% on Sept Qtr; up 6.1% on year
- Fraser Coast: $380,000; up 2.7% on Sept Qtr; up 2.1% on year
- Gladstone: $567,500; up 9.1% on Sept Qtr; down 2.2% on year
- Mackay: $586,304; up 9.6% on Sept Qtr; up 4.2% on year
- Rockhampton: $470,000; up 2.6% on Sept Qtr; up 2.2% on year
- Townsville: $420,000; down 1.8% on Sept Qtr; up 0.6% on year
- Cairns: $407,500; down 27.9% on Sept Qtr; down 15.3% on year
Source: REIQ December Quarter median house sales data.