Queensland sales and new home figures are finally seeing some sun shone on them. After 5 years of pretty flat growth in both sales volumes and median prices, South East Queensland including the Sunshine Coast from Noosa, Brisbane and the Gold Coast are experiencing better than average sales volume, decreased time on market and healthy median price growth.
New home sales in Queensland increased 21% in the March 2014 Quarter, a sign that what was more just Sydney & Melbourne experiencing good times are now spreading to the north . The Housing Industry Association says South Australia is also showing promising results with sales up 6.2%. The HIA says total new home sales in the March Quarter increased 5.8%. “It’s encouraging to see that during the March 2014 Quarter all of the surveyed states recorded increases in detached house sales,” HIA’s Diwa Hopkins says. New South Wales and Western Australia also maintained healthier levels of sales activity. “This update shows there may be some potential for further growth in these states.”
In my opinion, the first few months of this year have been a part of a slow transition from a buyers market to a sellers market. With buyers still having an advantage, this will soon change as greater competition occurs and build momentum. Come August, the Queensland property market will be more in favour of the seller than the buyer in my opinion. Making it harder for southern buyers to get their foot in the door unless they’re in front of the agents and vendors quickly.