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QLD Property Market Tipped to Continue Performing

QUEENSLAND’S property market is tipped to continue its solid performance through 2018 with predictions prices could grow faster than they did in 2017.

While southern capitals were expected to experience price drops, after a year of substantial growth, other capital cities, including Brisbane were more likely to experience positive conditions.

CoreLogic head of research Tim Lawless said an improved job market and an increase in migration meant price growth in Queensland could potentially be higher in 2018.

And he said regional Queensland markets, particularly those around mining regions, were also likely to improve as values bottomed out after a long and substantial decline.

In many of those areas listings had started to drop and sales numbers had started to rise, which would lead to some gradual price gains.

Ray White Queensland CEO Tony Warland said the start of 2018 would be strong for the property market.

“November is always our best month for sales and the best quarter is always the three months to March, so it’s the best time to sell,’’ he said.

“If people didn’t sell the house by Christmas then they are on a mission to get their house sold and the kids into school as soon as possible in the new year.’’

He said the Brisbane market would fire back up by mid-January, although the Gold Coast and Sunshine Coast markets would be strong the whole time through Christmas and New Year.
Mr Warland described the Queensland market as much more “stable and confident than southern markets”.

“We see at least three to five people bidding at auctions in Brisbane and you can get a genuine picture of what the market confidence is, whereas in Sydney they get upset if they don’t have 15 to 20 people registered to bid, it’s so erratic.’’

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