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Queensland’s tourism hotspots experienced the largest growth in median price in the March quarter.
Data released by the Real Estate Institute of Queensland show that Cairns was the strongest performer, with the town’s median house price increasing by 5.6 per cent over the quarter.
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President Anton Kardash said Cairns had been performing strongly as investors return to the market, buoyed by growing confidence in Queensland’s tourism regions.
Mr Kardash said this trend was also causing the Gold Coast and Sunshine Coast to gather pace.
“Properties are changing hands quicker and prices are recording steady increases,” he said.
Gold Coast prices rose by 4.2 per cent, which was the fourth consecutive monthly increase, while Sunshine Coast prices increased by 2 per cent.
There were also gains for other tourist regions, with Rockhampton median house prices rising by 3 per cent, the Fraser Coast by 2.9 per cent and Townsville by 2 per cent.
By comparison, prices were largely stagnant in Brisbane, where the median shifted up by just 0.4 per cent to $560,000.
