Queensland property market continues to boom

Queensland has set another record with 60% of its markets are achieving price growth of more than 10% in the past year making the state as one of the nation’s most compelling markets. There are also signs of rising numbers in terms of sales activity across various regions in Queensland. Undoubtedly, the Sunshine Coast remains No.1 in the state’s market rankings while other growth markets are also emerging in other parts of QLD including the long-suffering Gladstone market where we are seeing some signs of recovery. Gladstone is continuing its revival after a long downturn where 8 out of its 12 suburbs have been reported with rising sales activity and there is growing evidence of price recovery.

Queensland’s capital Brisbane remained robust, with growth still very strong, especially in the housing sector. Brisbane’s successful bid to host the 2032 Olympics had experts predicting median house prices in the city to triple, but it’s just one of the drivers that are expected to boost Queensland’s property market. In fact, Brisbane has just welcomed five of its new suburbs to the million-dollar club. According to REIQ, these suburbs where the median house price just moved above the $1 million mark:

• Stretton
• Wishart
• Morningside
• Windsor
• Woolloongabba

An increase in the number of suburbs with rising sales activities were also recorded on other parts of QLD including the Gold Coast, Cairns, Bundaberg, Gladstone, Mackay, Rockhampton, Toowoomba and Townsville.

The Gold Coast is considered the most productive location in the region where 37 of the 49 Gold Coast City suburbs were recorded to have rising trajectories with sales activity. This is an incredibly strong market, a City where people go to and experience affordable city-lifestyle trend every time Sydney and Melbourne experience lockdowns. Southport in particular topped the Gold Coast market with quarterly sales from 197 and gone up to 505. Toowoomba is also a stand out market where out of 17 suburbs ranked, 14 of those were categorised as growth markets.

Moving up far north of the state, both Cairns and Townsville are keeping afloat in the market with Cairns having 16 suburbs with rising sales activity and Townsville has 11. On the other hand, Central Queensland, 9 out of 10 Rockhampton suburbs were reported rising, while Mackay has 10 of its 14 suburbs have increasing sales activity. Bundaberg continues to appear on the list as a growth city, with 8 out of 11 suburbs showing an increase in sales activity.