In some good news for Queensland home owners, prices are starting to increase again, with the median price up 1.2% to $505,000 in the last quarter according to REIQ.
Some caution should be exercised in relying on just one months result, and some suburb median price changes hardly reflect real pricing. For example, Nundah was up 34% while Ascot was down 30%, such wild swings undoubtedly reflect skewing by an unusually large number of high prices, or low priced sales respectively and are hardly a fair indication of general price changes.
REIQ says the number of sales transactions is up 6% on last year, and the Fraser Coast recovered with the median price up 7.8% on the back of a 42% increase in transactions.
