What is the value of real estate in Queensland? REIQ analysis
Nationally, RP Data estimates housing wealth at $5.2 trillion, however Queensland now accounts for more than 15% of this estimation, according to CEO of the Real Estate Institute of Queensland (REIQ) Anton Kardash.
In fact, with Brisbane become increasingly popular for investors, and values ticking up, this is only set to increase.
“Queensland residential housing is more popular than ever with investors, who see an enormous upside as confidence rebounds in the local real estate market,” said Kardash, pointing to strong buyer sentiment and sales activity assisting the Gold Coast and north Queensland in particular since the GFC.
Confidence was also noted to be returning in north and central Queensland, as well as the south-east, with particular reference to the Sunshine Coast.
“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.”
He noted that the national value of residential property is more than superannuation, listed stocks and commercial real estate combined.
He provided the following house values by region across Queensland:
- Brisbane $393 billion
- Gold Coast $123 billion
- Sunshine Coast $74 billion
- Far North Queensland $36 billion
- Wide Bay-Burnett $34 billion
- Fitzroy $33 billion
- North Queensland $31 billion
- Mackay $28 billion
- Darling Downs $26 billion
- West Moreton $12 billion