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Queensland Posts Positive Real Estate Results For March Quarter

By Adrienne McTavish

According to the Real Estate Institute of Queensland (REIQ), the state's residential property market experienced a positive twelve months for the year ending March 2013.

In a statement released May 18, REIQ chief executive officer Anton Kardash said the results were an indication that Queensland's property market was steadily improving.

"As we forecast last year, our property market continues to record healthier results with the positive yearly figures also highlighting that residential sales have turned a corner," he said in the statement.

Of the twelve major regions across the state, ten of them posted a steady or better median house prices compared to last year.

The estimated number of investors remains steady, with low vacancy rates encouraging more investment activity in the coming months.

However, first home buyer numbers are below historical averages, dropping to 50 per cent fewer than last year. Usually comprising around 18 per cent, the amount for the year end March sat around 10 per cent.

"The importance of first home buyers to the overall health of the property market cannot be underestimated so we hope to again see some assistance for first time buyers of established property in this year’s State Budget," said Mr Kardash in the statement.

If you're interested in houses for sale in Bulimba or any of the surrounding suburbs, get in contact with the team at Ray White Bulimba.

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