The only way is up for Qld Property Market!
THE only way is up for Queensland’s property market , with latest industry data finding most mining towns rebounding. The property turnaround has started for towns and cities that were hard hit by the mining downturn, according to the Real Estate Institute of Queensland’s latest Queensland Market Monitor.
Brisbane chugged along at steady and sustainable levels for the past year, but regional centres were now beginning to show hints of recovery. Local agents in Gladstone, Mackay and Townsville say the softer market conditions have started to entice more local buyers, with market confidence slowly but surely improving, the report said.
REIQ chief Antonia Mercorella was confident Queensland would not take backward steps. Our regional centres, where the impact of the GFC and mining downturn continue to be felt years later, are defiantly consistent and this is fantastic news for our state, she said. Queensland property is an encouraging story of economic resilience.
Ms Mercorella said the southeast would remain the state’s property powerhouse, but that strength would eventually be felt throughout the rest of the state.