Queensland has made headlines in recent months for its booming real estate market thanks to its successful bid to host the 2032 Olympics and stability during the pandemic.

A survey by Domain found that the Queensland housing markets have been very busy in recent months in terms of sales and new listings.

Undersupplied Markets

According to the study, six out of ten suburbs where homes are quickly bought are in the Gold Coast and Sunshine Coast regions.

Supply in these markets has fallen to multi-year lows as competition for real estate intensifies.

  • Capalaba, Brisbane
  • Noosa, Sunshine Coast
  • Broadbeach – Burleigh, Gold Coast
  • Port Douglas – Daintree, Regional Queensland
  • Robina, Gold Coast
  • Surfers Paradise, Gold Coast
  • Bribie – Beachmere, Sunshine Coast
  • Wynnum – Manly, Brisbane
  • Ormeau – Oxenford, Gold Coast
  • Kenmore – Brookfield – Moggill, Brisbane

Fresh stock markets

Unlike the suburbs in the previous list, these markets registered a general upward trend in new quotes.

According to the study, these markets reported a 10% annual increase in quotes in September.

Note that unlike the previous list, most of these markets are located at the city or region level.

  • Gold Coast
  • wide bay
  • Sunshine Coast
  • cairns
  • Ipswich
  • Logan – Beaudesert
  • Downtown Brisbane
  • Moreton Bay – North
  • Central Queensland
  • Brisbane – South

Head of research and economics Dr. Nicola Powell said the fresh supply of homes in these markets is beneficial to homebuyers looking to purchase in coastal areas.

“We are starting to see more properties entering the market, some of which can be attributed to homeowners deciding to take advantage of rising property sales prices by choosing to increase or decrease depending on their current stage in the property’s life cycle. real estate,” said Dr. Powell.

“Investors also appear to be taking advantage of this strong market demand and selling real estate for a high margin in favorable market conditions.”

Auction or private deals

While private treaty has remained a dominant method of sale in all states and territories, selling through auction is becoming increasingly popular with more sellers in Queensland.

Andrew Bell, CEO of Ray White Surfers Paradise, said the number of properties up for auction in Brisbane has increased by 18% over the past decade.

“What we’ve seen is that more sellers are chasing buyers’ competitiveness and choosing to auction in South East Queensland to get a better sale price, particularly for higher-end sales,” said Mr Bell.

However, Queensland still has a smaller share of auction sales compared to the major auction-oriented cities such as Sydney, Melbourne and Canberra.

How are the median prices going?

On an annual basis, house prices across the country are up 18.8%.

Despite these gains, Queensland has maintained its accessibility for homebuyers, making it the third most affordable state to buy a home.

Gold Coast and Sunshine Coast posted the largest increases in median home prices last year, at 18.2% and 23.1% respectively.

Unit prices in these two regional centers also rose, with Gold Coast posting 9.9% growth and Sunshine Coast posting a 14.3% gain.

dr. Powell said these gains are likely to continue given expectations of a “once in a generation infrastructure boom” in the state ahead of the 2032 Olympics.

“Capital inflows and resulting job creation, expected to be the equivalent of 91,000 full-time jobs in Queensland, will be an economic force for South East Queensland in the run-up to the Games,” she said.

“As part of this cash injection, we will, of course, witness significant demand for housing, especially as we prepare to welcome skilled workers into the state.

“What we can predict is increased demand for rental housing to accommodate temporary workers, which of course presents opportunities for investors to take advantage of strong rental demand.”

Photo by City of Gold Coast on Unsplash.

Top Suburbs: Bligh Park, Keperra, Balga, Whyalla, Mt Lawley

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