House price recovery in Queensland
By
Tim Neary
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15/01/2010 12:00:00 AM
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Average house prices in Brisbane and the Gold Coast appear to have recovered from their losses from the GFC, according to analyst Bill Morris.
But the two regions are yet to see a strengthening in sales volumes, according to a report in AFR.
Basing his findings on figures from the Queensland Department of Natural Resources and Water, Morris said average Brisbane prices reached $560, 000 in the six months to December 2009 - up from $511, 000 six months earlier.
Figures for the Gold Coast showed a rise of 7.6% to an average of $575, 739.
Morris said the price rises were a sign that the bottom of the market had passed in June.
But he said he said difficulty in obtaining finance was a problem for buyers and sales volumes remained at 30 year lows.
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