Queensland beginning to rebound

by Adam Smith21 Nov 2011

Queensland property sales have seen a rebound in the September quarter, but prices have remained depressed.

The REIQ September quarter median price report has found sales volumes rose 17% for the quarter, with some regions recording even more substantial gains. Median house prices continued to lag, however, with only the Gold Coast and Cairns recording positive price growth.

REIQ chair Pamela Bennett said the results are encouraging, but that recovery for the market remains some ways off.

"Activity in most areas improved markedly in the September quarter compared to the first six months of this year, but we mustn't get ahead of ourselves. Sales activity is still about 20% below where we were this time last year," Bennett said.

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