Adam Empringham,
Director of Sales at Image Property.
South-East Queensland Property Market Update: Q4 2024
As we move into 2025, the real estate landscape in South-East Queensland, covering Brisbane, the Sunshine Coast, and the Gold Coast – presents a dynamic mix of trends and opportunities. Here’s what you need to know based on the latest data from CoreLogic.
A Look at National Context
Real estate remains a cornerstone of Australian wealth, valued at an astounding $11.1 trillion. With 11.3 million dwellings nationwide, housing comprises 55.9% of household wealth.
In 2024, there were 531,573 property sales, amounting to a gross value of $498.4 billion, showcasing the resilience and importance of the housing market.
Brisbane: Record-High Values
Brisbane continues to be a standout performer, achieving record-high property values. Over the past year, dwelling values increased by 11.2%, driven by steady demand and growth across the city. The December quarter alone saw a 1.3% rise, reflecting sustained buyer interest despite shifting market conditions.
Sunshine Coast and Gold Coast: Coastal Strength
Both the Sunshine Coast and the Gold Coast benefit from their desirable lifestyle offerings, which continue to attract buyers and investors. Regional Queensland, which includes these key markets, experienced a 6% growth in dwelling values over the 12 months to December 2024, outperforming many other areas across the nation.
Interest Rates: Stability and Outlook
Interest rates held steady in December 2024, with the Reserve Bank of Australia maintaining the cash rate at 4.35% for the ninth consecutive meeting. Although financial markets anticipate potential rate cuts in 2025, the exact timing remains unclear. A potential reduction in rates would provide much-needed relief to buyers and investors, but it’s worth noting that current rates are still well above pre-pandemic levels.
For property buyers in South-East Queensland, understanding the interest rate environment is crucial. If rates begin to decline, it could create renewed urgency in the market as borrowing becomes more affordable.
Market Shifts and Trends
– Affordability Drives Growth: Lower quartile properties led the charge nationwide in 2024, with values rising by 9.9% compared to a modest 2.1% growth in the upper quartile. This trend highlights the increasing demand for more affordable housing options, a pattern also observed in South-East Queensland.
– Rental Market Moderation: National rental growth slowed to 4.8% in 2024, down from the sharp increases seen in previous years. However, the consistent demand for rentals ensures that landlords in high-demand regions like Brisbane, the Sunshine Coast, and the Gold Coast continue to benefit from stable yields.
– Sales Activity: While sales volumes increased by 8.3% year-over-year, the December quarter saw a 1% decline, aligning with seasonal trends. Median days on market in Brisbane rose slightly to 29 days, indicating buyers are taking longer to make purchasing decisions.
What’s Next for South-East Queensland?
The data suggests that the region will maintain its appeal in 2025, buoyed by its strong lifestyle credentials and relatively affordable options compared to Sydney and Melbourne.
Investors and homeowners alike are drawn to the region’s growth potential and robust rental demand.
Whether you’re considering buying, selling, or investing, now is a great time to explore opportunities in South-East Queensland.
For more detailed insights and guidance, reach out to Image Property for the latest market trends and updates.
