WHAT WILL THE PROPERTY MARKET LOOK LIKE IN 2016?
January 6th 2016
With the strong growth of 2015 expected to ease, first home buyers and investors in lifestyle properties look set to do well in the year ahead. Price growth is likely to slow down and prices are set to become more consistent in 2016 after a period of strong growth, according to LJ Hooker’s Head of Real Estate Christopher Mourd. “The market is definitely slowing, with growth slowing people can (now) make better decisions,” he says. A more consistent market means both buyers and sellers “can see what’s really going on.”
HIA senior economist Shane Garrett agrees, saying the price growth of 2015 won’t last. “Activity is at such a high level … it can’t be kept at such a high level.” “There’s also the fact that population growth is slowing and less people are coming here from overseas to work as the international (economic) conditions are improving.” Click Here To Read More
BRISBANE NEW MEDIAN HOUSE PRICE REACHES RECORD HIGH
December 14th 2015
REIQ Queensland Market Monitor report, released today, reveals a new record median house price for Brisbane LGA, reaching a high of $615,000 for the September quarter. This is $5,000 more than the previous median house price, set in the June quarter, of $610,000. REIQ CEO Antonia Mercorella said the Brisbane market, and more broadly, the southeast corner of Queensland, was leading the state’s recovery.
“It’s been difficult for areas of the state that were heavily reliant on mining to find their feet, but we’re starting to see indicators that suggest we are heading towards firmer ground,” she said. “Confidence in the residential house market is growing with sales activity up over the quarter across almost all southeast Queensland regions.” Click Here To Read More