Strong selling session in the QLD housing market

THE December real estate quarter has pipped the spring selling season in Queensland with just under 10,000 house sales.

Not only are more properties selling, they are taking less time to do so and with less discounting.

And Real Estate Institute of Queensland accredited agencies are reporting that many properties are now selling for their asking prices or above with instances of multiple offers increasing.

The top major region over the three-month period was Moreton Bay which posted median house price growth of 7.7% to $387,750.

The next best performer was Toowoomba with its median house price increasing 6.5% to $329,000.

While property prices are holding relatively steady in Central Queensland, the volume of sales in some mining areas continues to trend down.

In Gladstone, the preliminary numbers of house sales reduced about 30% over the year while house sales in Mackay fell more than 30% over the same period.

REIQ chief Anton Kardash said not only could the December quarter claim to be the third strongest in as many years, it was also firming without the aid of extraneous stimulus measures.

"Our most recent peak was in September 2012 when the return of stamp duty concessions underpinned the increased sales activity," he said.

"However, the strength of this latest quarter was a direct reflection of our improving market and growing confidence levels.

"The September quarter, or spring selling season, historically records the high numbers of sales.

"Last year, however, the December quarter trumped it with the preliminary numbers of house sales peaking at just shy of 10,000 for that three-month period.

"This was the case across most major regions of the state which is a further signal that our market is well into its next growth phase.

"And when we compare 2013 to the very good times of 2007, we are sitting at about 75% of the sales volumes that occurred during that year - which we all know was a pretty spectacular one."

Topics:  real estate

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