Institute of Queensland (REIQ).

The quarterly median sales results for the June 2024 Quarter demonstrate the Sunshine State continues to go from strength to strength in property price performance.

The statewide median house price climbed 4.46 per cent over the quarter, and an impressive 12.14 per cent over the year. Not to be outdone, Queensland’s median unit price rose five per cent over the quarter, and 14.14 per cent annually.

The market also quickened its pace, with the median number of days on market tightening by about a week compared to the year prior. Queensland’s houses are now selling in about 22 days, while units are being snapped up in just 19 days.

Among the strongest quarterly growth in the state in the house market, were regional areas such as Rockhampton (9.2%), Townsville (8.34%), Gladstone (6.74%) and Mackay (6.19%).

Taking a longer-term view and looking at annual house growth however, the top four performers were Ipswich (16.67%), Brisbane (16.16%), Toowoomba (16.02%) and Rockhampton (15.07%).

For the unit market, quarterly price growth stood out in Gladstone (13.82%) and Ipswich (10.59%), while the annual growth was staggering in Logan (22.06%) and again Ipswich (18.71%) showing a surge for the suburbs on the cusp of the capital city.

REIQ CEO Antonia Mercorella said there was excitement in the air for Brisbane and beyond.

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