THE value of Queensland’s residential properties has snowballed with the total worth of homes in the state on track to pass $800 billion this year. After a drop in 2011 and slow growth in 2012, figures from RP Data show the value of Queensland’s dwelling stock is now $790 billion, up from $737 billion from the same time last year. Real Estate Institute of Queensland CEO Anton Kardash said the data proved the state was experiencing price growth. “Queensland residential housing is more popular than ever with investors, who see an enormous upside as confidence rebounds in the local real estate market,” he said. “The state’s real estate renaissance is reflected by a wide range of indicators, from strong price growth and higher sales volumes to more new housing construction and finance approvals. “Nationally, the value of residential housing has grown to be worth more than superannuation, listed stocks and commercial real estate combined.” According to RP Data, residential housing values in Brisbane were the highest in Queensland at $393 billion with the Gold Coast in second place with $123 billion. The total number of residential dwellings as of December 2013 was 1.847 million.
Posted on: Sat, 26 Apr 2014 03:18:17 +0000
Trending Topics
Recently Viewed Topics
© 2015