TARYN PARISTUE 23 FEB 21
Queensland is booming according to Westpac’s Housing Pulse Report.
Senior economist Matthew Hassan said the state’s markets were now very tight with “sales running well ahead of listings and extremely tight rental vacancy rates in most areas” tipping the market into a boom.
“Market turnover has continued to hold well above pre–pandemic levels and prices are pushing new historic highs,” Hassan said.
“While there are some soft patches—Brisbane’s inner city and tourism exposed areas—the state’s wider fundamentals remain very constructive.”
Domestic migration to the Sunshine Coast, Gold Coast and Cairns has bolstered a double digit price growth in the past six months. Westpac reported sales were running “well ahead of listings” down to just 3.4 months of sales in Brisbane, where the long run average was five months.