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Queensland property market activity on the rise

Queensland’s property market has been one of the nation’s standout performers for some time now, and this was certainly the case during the June quarter.

Data from the Real Estate Institute of Queensland (REIQ) showed all property types experienced strong sales during the three-month period, suggesting now is a good time to buy Bulimba real estate.

The REIQ Queensland Market Monitor also revealed a rise in prestige property sales, as the number of purchases valued in excess of $1 million were up 28 per cent.

Not only this, sales valued at over $500,000 marked a rise of 20 per cent from the previous quarter.

“The strongest performing sectors of the Brisbane house market were at opposite ends of the spectrum, with increases in the sub-$350,000 and $1 million price brackets helping the city to its fifth consecutive quarter of growth,” said REIQ acting chief executive officer Antonia Mercorella.

Brisbane isn’t the only area of the state to have witnessed growth either, as the REIQ revealed that many regional markets are also performing strongly.

However, the Brisbane Local Government Area led the way with a 19 per cent rise in sales activity over the course of the quarter.

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