Queensland house market subdued but recovering

With median housing prices holding steady and the number of sales increasing slightly, Queensland's residential housing market could soon be on the road to recovery.

A report by the Real Estate Institute of Queensland (REIQ) has shown that turnover rates in June for Brisbane are up seven per cent on the number recorded during the March quarter.

This could indicate that the Queensland property industry is starting to regain the territory lost due to environmental disasters suffered earlier in 2011.

In the south-east of the state, the Logan region recorded the largest increase in the number of property sales, up 22 per cent.

Sales prices were highest in Gladtsone, with the median sales measuring in at $440,250 - a positive 10.8 per cent change over this time last year.

REIQ chairman Pamela Bennett claims that the recent increases in resource investments in the state may flow on to assist the recovery of the housing sector - developments that could prove interesting to real estate programs throughout the state.

Bennett asserted: "The multibillion-dollar investment in Queensland’s resources industry in the central Queensland region is again behind Gladstone’s strong performance but we are also seeing this market strength radiate out to its neighbours of Mackay and Rockhampton in this quarter as well."