How has the Queensland housing market performed over 5 years?
New research has revealed the annual median house price growth for Queensland – and the areas faring the best.
According to research by REIQ, over the past five years the annual median house price for Queensland increased by 12.5 per cent, from $425,000 in September 2014 to $478,000 in September 2019.
The research also delved into the top-performing areas, finding that over the September quarter Gladstone and Fraser Coast saw the strongest growth in terms of annual price increases.
The annual median house price in Gladstone grew by 3.7 per cent, reaching $280,000, while Fraser Coast achieved 1.6 per cent growth to $325,000.
The Ipswich region also retained positive growth at 1.5 per cent to an annual median house price of $350,000, REIQ said.
“Mackay also performed well with an increased median house price of 1.5 per cent, surpassing Brisbane LGA by 1.9 per cent as well as the Gold Coast market by 1.8 per cent,” it added.
“Despite recent annual growth for Mackay, the region still has some way to go before surpassing its annual price five years ago.
“Greater Brisbane presented marginally improved performance for the house market over the year, while the unit market continued to underperform, resulting in negative 1.2 per cent growth for the year.
“The annual median house price for Brisbane LGA fell slightly by 0.4 per cent for the year to $675,000, while Logan, Moreton Bay and Redland followed a similar trend.”
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