Real Estate Sales Hit Five-Year High in State

Sunshine Coast Daily (Maroochydore, Australia), March 21, 2015 | Go to article overview

Real Estate Sales Hit Five-Year High in State


Byline: ERLE LEVEY

THE Sunshine Coast property market is in one of those rare windows where month by month it is significantly cheaper to buy than rent.

It is part of a significant shift in the landscape of real estate in the first two months of 2015.

The release of Real Estate Institute of Queensland statistics shows residential real estate sales in Queensland have hit a five-year high.

The data reveals Queensland recorded $51billion worth of residential real estate transactions in 2014, the highest level since 2010.

REIQ chief executive officer Antonia Mercorella said sales volumes also hit a five-year high in 2014, with about 114,000 transactions recorded throughout the state.

"The value of transactions in Queensland in 2014 was below the peak of $73billion recorded in 2007, but there's a very encouraging upward trend, which is great news for homeowners," she said.

"2003 still holds the record for the most number of transactions in a calendar year. However, sales volumes are clearly heading in the right direction."

Yet on the Sunshine Coast zone chair Amber Werchon said many agencies called 2009 the year to beat and, after some tough years, it was exciting the region's numbers were far exceeding those.

"Overall, it's all very positive for most property types on the Coast," Ms Werchon said.

"The Sunshine Coast has seen a great result for the December 2014 quarter with house sales up 14%.

"The median sale price is currently $482,000 which is a 1.8% rise for the December quarter.

"Unit and townhouse sales also rose 2% for the December quarter with the median sale price being $349,500.

"The over $1 million market has been a lot stronger since the latter part of 2014, with some great sales recorded such as land in Alexandra Headland selling for $1. …

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