Brisbane house prices slip But other Queensland cities produced strong results.
Cairns topped the list, with the median house price increasing 5.6 per cent in three months to $375,000. "Cairns is performing strongly as investors return to the market, buoyed by growing confidence in Queensland's tourism regions," REIQ chief executive Anton Kardsah said. After four consecutive quarters of increased sales activity, the Gold Coast posted an increase of 4.2 per cent in its median house price to $500,000 over the March quarter. Total house sales across Queensland recorded their fourth consecutive quarterly increase, up 8.3 per cent over the March quarter. However, property analyst Michael Matusik said Brisbane City was well into a residential recovery overall. Despite the negative result in the last quarter, the year to March has seen Brisbane's median house price actually increase by 5.9 per cent. "This recovery coach outlet las vegas started late last year," he said. "It followed a long stagnation period, which was needed, as the market had overheated during the 2001 to 2008 upturn. Brisbane values appreciated something in the coach purses on sale online order of 230 per cent over that seven year period. "This time around, values are expected to lift, but mildly in comparison." Mr Matusik said detatched house values could rise by another 11 per cent in the next financial year. He said he expected townhouses and units to perform even better, with those in the middle ring suburbs set to increase as much as 19 per cent in value. "Yet this recovery is more about being able to sell your property, rather than how much will it appreciate," he said.
"Like many areas across the country, Brisbane's current recovery and pending upturn is likely to be short in duration this cycle, with the market peaking cheap coach shoes in late 2015/early 2016, depending coach outlet illinois on interest rate movements, employment trends and dwelling supply.".
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