Queensland Property Values Increase During Last 12 Months
The latest release from the Real Estate Institute of Queensland (REIQ) has highlighted the growth of property values across the state, which could be exciting news for sellers of Surfers Paradise property.
Overall, the number of house sales in Queensland grew by 9 per cent during the September quarter, while property prices across the state increased over the year.
For example, real estate in the Gold Coast increased by 4.8 per cent in value over the last 12 months, while the Sunshine Coast underwent value growth of 2.3 per cent over the same period.
Both the Gold Coast and Sunshine Coast experienced an increase in house sales over the September quarter as well – rising by 12 and 10 per cent, respectively.
REIQ President Anton Kardash said the growth in the market was to be expected, with high hopes that this strength will continue well into the new year.
"Given the price increases in the southern states, there is no doubt that Queensland remains one of the most affordable places to buy or invest in property," said Mr Kardash in a November 26 statement.
"With this in mind, we are likely to see an increase in interstate investors and migrants taking advantage of these excellent opportunities."