The REIQ’s latest Queensland Market Monitor showed a quieter March quarter with the Brisbane median house price dipping below $600,000. But this reflected slower activity in the prestige market and strong underlying sales activity was still evident in other segments, according to the REIQ.
“March is historically the quietest quarter of the year and after such robust trading in December 2014 this dip was not unexpected,” REIQ CEO Antonia Mercorella said in a statement on the REIQ website. “Looking at the 12 month trend to March 2015, the median house price is $587,000 and this is an even more accurate reflection of what sales prices are doing.”
In particular Brisbane’s outer north saw strong unit and townhouse sales activity, riding high on the back of the Moreton Bay Rail Link, due for completion in 2016. “The Moreton Bay suburbs of Griffin, Petrie and Kallangur are benefiting from the new rail line which will improve transport options for residents,” Ms Mercorella said.
“The relative affordability of units and townhouses in the Redcliffe region, with a median price of around $305,000 is a good entry point for owner occupiers who can’t afford to buy closer in.”
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