South east records real estate boost

Posted February 27, 2015

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South east Queensland, Toowoomba and Cairns have emerged as the State’s star real estate performers for 2014, according to fresh data released by the Real Estate Institute of Queensland (REIQ).

Historically low interest rates had delivered a crucial boost to buyer confidence, with investors eyeing further capital gains in 2015, said REIQ chief executive officer Antonia Mercorella.

“Ninety-seven per cent of houses sold in Toowoomba over 2014 went for higher than the previous sale price, still just ahead of Brisbane which recorded 96 per cent of houses sell for a profit,” she said.

‘‘Southeast Queensland and Cairns real estate had a strong 2014 and the State’s major tourism centres are also starting to hit their straps,’’ she said. ‘‘These improving conditions in the southeast generally kick start growth in regional Queensland and we expect 2015 will be no different.

‘‘Our agents are reporting that confidence is on the rise in key Queensland real estate markets, which augers well for the rest of the year.’’

Meanwhile the regional centres of Gladstone, Mackay and Rockhampton were still feeling the pinch following the mining downturn, said Ms Mercorella.

‘The downturn in the mining sector continued to impact on the regional centres of Gladstone, Mackay and Rockhampton, with only Rockhampton to record a steady median house value,” she said.

‘‘All regions recorded an improvement in days on market compared to a year ago, except for Mackay (up 10 days) and Bundaberg (up 7 days).

“Rockhampton and Townsville saw their days on market stay relatively unchanged over the year.”

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