Queensland’s Property Market Insights

Weekly Market Update with Leigh Martinuzzi – MPG

Queensland’s property market has been a topic of discussion lately, and we’re here to provide you with the facts. Here’s what you need to know:

1. National Property Trends:

• Nationwide, property prices have been steadily increasing for eight consecutive months.
• Queensland reflects this trend, but there are exceptions.

2. Sunshine Coast and Noosa:

• These coastal regions have seen a slight dip (0.4%) in property prices from their record highs.
• The Sunshine Coast’s property values increased by over 60% during the post-pandemic period and still boast the highest average property price outside of Brisbane.

3. Gold Coast Comparison:

• Unlike the Sunshine Coast, the Gold Coast maintains a 5.5% increase in property values compared to the previous year.
• The Gold Coast’s affordability advantage might explain this difference.

4. Understanding Discrepancies:

• Affordability isn’t the sole factor influencing property values; market diversity plays a crucial role.
• More affordable areas in the southern end of the Sunshine Coast and hinterland regions are experiencing robust growth.

5. Positive Indicators:

• Despite the annual dip, the Sunshine Coast’s property market showed a 2.4% increase over the past three months, translating to approximately $1,800 per week.

6. Regional Markets:

• Regional markets are also thriving, with Darling Downs recording a significant 9.9% increase in property values, the highest outside of Brisbane.
• Southport on the Gold Coast follows at 8.1%, with strong growth in Bundaberg (8%) and Biloela (7.2%).

7. Affordability and Demand:

• Affordable markets are gaining popularity as more people seek opportunities to enter the property market.
• This shift in demand is allowing more individuals to take their initial steps towards homeownership.

In summary, while the Sunshine Coast and Noosa have seen a temporary slowdown in property prices after an impressive run, the rest of Queensland’s property market is thriving. As we navigate these dynamic real estate conditions, stay tuned for more insights.