Adam Empringham,
Director of Sales at Image Property.
South-East Queensland Property Market Update: Q3 2024
As we enter the final stretch of 2024, the property market across South-East Queensland continues to demonstrate resilience and dynamic shifts. CoreLogic’s latest report provides insightful data that sheds light on the trends emerging across Brisbane, the Gold Coast, and the Sunshine Coast during the third quarter. Whether you’re a seasoned investor or a first-time home buyer, understanding these trends is crucial to making informed decisions.
Brisbane: A Record High in Dwelling Values
Brisbane’s property market continues to hold strong, with dwelling values seeing a rise of 2.7% over the past quarter and an impressive 14.5% over the past year. This growth places Brisbane’s dwelling values at a record high, with steady demand continuing to drive prices upwards. Buyers and investors looking at Brisbane should keep in mind that this momentum is expected to persist, especially with the city’s growing appeal as we move closer to the 2032 Olympics.
Gold Coast: Consistency Amid a Slower Growth Rate
The Gold Coast market remains consistent, though the pace of growth has slightly tapered off in comparison to Brisbane. Dwelling values have risen modestly, supported by ongoing interest from both interstate buyers and local investors. With new developments and infrastructure projects on the horizon, the Gold Coast continues to be an attractive option for those seeking coastal properties with strong long-term potential.
Sunshine Coast: Steady Climb with Increased Listings
The Sunshine Coast property market has experienced a steady climb, with values increasing moderately over the quarter. Notably, there has been a 12.1% increase in new listings compared to this time last year, signalling an active spring season for sellers. For potential buyers, this influx of properties may present more opportunities to find the right investment or home. The region remains a sought-after destination, particularly for those looking for lifestyle-focused properties.
Broader Trends Across South-East Queensland
While Brisbane leads in overall growth, both the Gold Coast and Sunshine Coast continue to attract significant buyer interest. With new listings on the rise across the region, there’s an expectation of further inventory coming to market as we progress through spring. Auction activity has also seen a resurgence, contributing to the increased market activity, although clearance rates have slightly dipped, particularly in the capital cities.
Staying Informed in a Dynamic Market
As we move into the final quarter of 2024, the South-East Queensland property market is showing signs of tapering upwards, with Brisbane continuing to hold strong. This steady rise reflects Brisbane’s robust appeal, while the Gold and Sunshine Coasts maintain consistent interest from buyers and investors. Staying informed is essential in this dynamic environment. At Image Property, we are committed to providing up-to-date insights and expert guidance, helping you navigate the property landscape confidently.
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