The real estate rollercoaster continues as research shows house prices have been rising again throughout Queensland over the past three months.
abc.net.au/news/gold-sunshine-coast-property-market-lead-regional-upturn/102436758The real estate rollercoaster on the Sunshine and Gold coasts is on the way up again, with house prices rising by the equivalent of $1,000 a week over the past three months, according to research.
Although the two coastal centres experienced the biggest property hikes in regional Queensland, they were not alone, with every region in the state analysed by real estate data firm CoreLogic showing prices have been on the rise since February.The real rollercoaster started when prices on the Sunshine and Gold coasts skyrocketed from March 2020 to their peak in May last year – with the average price of houses in both regions jumping by an enormous 52 per cent.
But then came a marked downturn, when housing prices began to tumble as the Reserve Bank lifted interest rates for the first time in a decade. By April this year, they had fallen by 12 per cent on the Sunshine Coast, which includes Noosa, and by 7.3 per cent on the Gold Coast – the biggest percentage downturn in property prices since at least 2013.And with lower prices came fewer sales.
The number of homes sold on the Sunshine Coast fell by 29.9 per cent in the past 12 months, and by 28 per cent on the Gold Coast.Prices have begun to slowly bounce back, with the two coastal centres rising by more than 2 per cent in the past three months.
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