Significant increase in bullish property markets across Queensland

The latest Hotspotting Price Expectation Index revealed that the “rapid downward slide” that has characterized the past 12 to 18 months has reversed, with a number of suburbs recording a sharp rise in sales activity since the winter report.

“The transformation in Brisbane has been as dramatic as Melbourne,” the report said.

“The proportion of suburbs with positive ratings (rising, recovering, consistent) has risen from 21 percent (in the winter survey) to 73 percent of the total in this spring survey.”

This represents a 52 per cent increase in the number of suburbs classified as consistent or increasing in terms of sales volume in the past three months, which often leads to higher prices.

The report said apartment sales were topping the market within the city, while affordable suburbs such as Ningi, Bondall and Bray Park were among the best performers in the northern suburbs.

It found that 32 out of 41 suburbs in the Moreton Bay region had “positive ratings” based on high sales activity.

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Eleven of the 19 suburbs surveyed in Ipswich also showed signs of recovery.

Meanwhile, Redland City has 9 out of 11 positive suburbs, while Logan has just one on the list with 23 others either consistent or recovering markets.

“The only sector that continues to show some weakness is the West Brisbane area of ​​the Brisbane City Council area,” the report said.

The number of suburbs where sales have stabilized or been declining has fallen from 181 three months ago to 62 now, of which 19 are still considered declining sales markets, the report found.

Interestingly, they are spread across affordable and aspirational suburbs.

Hotspots manager Terry Ryder said nearly 75 per cent of Brisbane suburbs now had positive ratings, one of the best results in the country.

“The scenario in this spring poll is very different,” Ryder said.

“The number of rising suburbs has tripled, while the number of suburbs has been classified as plateauing

Or bear markets have dropped from 181 three months ago to just 62 now.

“Most of those previously negatively rated suburbs are now classified as recovering markets, with sales activity starting to move upward again after a period of steady decline.”

It’s positive news in the regions too, with the number of positive suburb ratings increasing from “a third to two-thirds in the last quarter” after “the weakest market we have recorded in the eight years of our surveys”.

“Prior to this recovery, the decline in regional Queensland markets was evident – ​​the number of upside sites fell from a peak of 179 in late 2021 to 16 (in the winter quarter),” the report said.

“This survey identifies 37 locations with increasing sales momentum, but the large number are 99 that are classified as recovering markets, having halted the previous decline in market activity.

“The number of declining sites rose from 19 to 53 to 86 in previous surveys, but is now down to just 28.”

The report said two very different locations led the recovery in regional Queensland – Gladstone and the Gold Coast.

Of the 49 Gold Coast suburbs analysed, 44 now have positive ratings, including 10 suburbs where sales activity is rising again.

In Gladstone, 12 of the 14 suburbs are in a solid area.

Elsewhere, Rockhampton has 12 positive-rated suburbs out of 16, Mackay has 11 out of 16, Townsville has 18 out of 26, and there are 19 out of 28 suburbs in Cairns showing a rise in sales activity.

Even the Sunshine Coast, which recorded one of the biggest booms during the pandemic and then suffered declines, is starting to join the trend toward a sales rebound, with 29 of its 46 locations in positive territory.

But only four of these suburbs are classified as emerging markets (Coroy, Glasshouse Mountains, Golden Beach and Nambour) while 17 have stabilized or are still in decline.

“Locations that are still struggling and have not yet embraced the theme of recovery include the Fraser Coast, and

The report said: The Whitsunday area and the Cassowary Coast.

Ryder said regional markets remained strong, with its analysis showing a significant increase in buyer demand in regional areas of the eastern states.

The report comes after PropTrack research revealed which suburbs recorded the highest turnover of homes sold over the past year, with Airlie Beach coming out on top.

It found that nearly 22 per cent of properties in the coastal tourist city changed ownership in the 12 months to April, compared with 15 per cent five years ago.

Other Queensland suburbs with the highest turnover rates include Port Douglas, Nelly Bay, Palm Cove and Cairns City.

These areas have seen some of the strongest increases in buyer demand during the pandemic, said Anne Flaherty, an economist at PropTrack.

“It is possible that some people bought properties during Covid and now, for lifestyle reasons, have made the choice to sell,” she said.

However, the latest Little Hinges Sight Unseen report, released in July, found that Queensland remained a favorite among buyers among the states, with the Gold Coast (40.4%), Sunshine Coast (36.5%) and Brisbane (28.4%) accounting for the lion’s share. . From royal eyeballs online.

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Queensland emerging markets based on sales activity

(houses, units, or both)

Brisbane

Alexandra Hills

Ascot

Aspley

Augustine Heights

Belara

Bonjari

Bowen Hills

Bundamba

Cannon Hill

Fitzgibbon

Familial

Hendra

Kidron

Kiba ring

Macgregor

Mango Hill

Milton

Mitchelton

Nengi

North gate

Postpone

Ormiston

Rochedale

Scarborough

Shayler Park

Sherwood

Cinnamon Park

South Brisbane

Strathpine

Tarragindi

Tenerife

Victoria Point

Wakerly

Wavell Heights

Wellington Point

Wellstone

Regional Queensland

Agnes water

Beaudesert

Benoit

Bondal

Pearly Waters

Borom heads

Kuroi

Kurrajong

I ran

Currumbin Water

Darling Heights

Dysart

Eli Waters

Gladstone Central

Glasshouse Mountains

Golden beach

Harlaxton

Helensville

Highfields

Idalia

Kelso

Lammermoor

Mermaid

waters

Merrimack

Miami

Nambour

I lied

Norman Gardens

North Mackay

abalone

Peregian Springs

South Gladstone

South side

Shorouk Beach

celery

West Gladstone

Westcourt

(Source: Price Expectancy Index – Hotspotting Spring 2023 Edition)