Queensland house prices surge out of economic doldrums
Article from:
Melissa Ketchell
December 04, 2009 11:00pm
HOUSE prices are climbing back to peak levels with pumped-up buyers jostling for properties that are selling quickly.
Surging prices in Brisbane's bluechip suburbs are leading the turnaround after more than a year in the doldrums.
The regional Queensland market is also showing signs of a resurgence with demand back on track in Rockhampton and Toowoomba.
The latest Real Estate Institute of Queensland sales data released exclusively to The Courier-Mail showed Brisbane median house prices in the three months to September matched the $495,000 peak reached at the height of the market in June 2008.In a heartening sign for all markets, there has been a rise in the number of properties sold, as well as in prices.Father of three Stephen Parker, who lives in the booming inner-Brisbane suburb of Wilston, which recorded a 35.9 per cent increase in its median price in the September quarter, is thinking of moving but it won't be far. Close proximity to the city, local restaurants and good schools made it an ideal place to call home.
Some agents report investors returning to the market, but tighter financing requirements are shutting out many wannabe buyers.
Real Estate Institute of Queensland president Dan Molloy said the figures showed how resilient the state's property market had been in the face of the global financial crisis.
Article from:
Melissa Ketchell
December 04, 2009 11:00pm
HOUSE prices are climbing back to peak levels with pumped-up buyers jostling for properties that are selling quickly.
Surging prices in Brisbane's bluechip suburbs are leading the turnaround after more than a year in the doldrums.
The regional Queensland market is also showing signs of a resurgence with demand back on track in Rockhampton and Toowoomba.
The latest Real Estate Institute of Queensland sales data released exclusively to The Courier-Mail showed Brisbane median house prices in the three months to September matched the $495,000 peak reached at the height of the market in June 2008.In a heartening sign for all markets, there has been a rise in the number of properties sold, as well as in prices.Father of three Stephen Parker, who lives in the booming inner-Brisbane suburb of Wilston, which recorded a 35.9 per cent increase in its median price in the September quarter, is thinking of moving but it won't be far. Close proximity to the city, local restaurants and good schools made it an ideal place to call home.
Some agents report investors returning to the market, but tighter financing requirements are shutting out many wannabe buyers.
Real Estate Institute of Queensland president Dan Molloy said the figures showed how resilient the state's property market had been in the face of the global financial crisis.