Queensland House Prices versus the Sharemarket

The REIQ’s latest news release reveals that although the median price  for sales during the past quarter has dropped this has primarily been because of a drop in sales of “high-end” properties.

In fact over 80% of the sales throughout the state were for properties under $800,000. It should also be noted that these statistics are prior to the Governments First Home Owner Boost and recent interest rate drops.

REIQ Chairman, Peter McGrath summed it up perfectly in the press release when he stated “To put it in perspective, the share market has fallen about 50 per cent in the past few months, while Queensland median house prices have softened just a few per cent”.

The team at Nerang First National continues to operate against the industry trends and is achieving record sales despite the conditions. Looking around the district the salespeople who are getting the deals together seem to be those who have operated in the all types of market conditions, not just the best of times.

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