A year in review

A year in review

posted in: News, Research | 0

It is hard to believe that we are putting together this, the final REIQ Insider blog, of 2012. I wonder where the year has gone.

While I have only been at the helm of the Institute for 12 months, what a year it has been!  As well as instigating a number of key changes and products and services to benefit our members, our property listing website reiq.com has continued to grow in popularity and listings.

In fact, reiq.com now features the second highest number of Queensland property listings of any website in the country. When you also consider that we only accept property listings from REIQ members, it is little wonder that more and more consumers are choosing to use a site they can trust.

As we head into 2013, it is wonderful to report that the Queensland market has improved as the year has progressed. We started the year with a hangover from 2012. Confidence levels were still subdued and buyers were thin on the ground. Throughout this year, however, REIQ members have been reporting an improving marketplace.

There have been more people through open homes and more buyers actually willing to buy. While the June quarter was relatively slow due to many buyers delaying their purchases until 1 July when stamp duty concessions had returned, the September quarter certainly made up for that temporary lull in activity.

In most areas across the State, sales numbers were up substantially over the quarter – in many areas in excess of 50 per cent compared to the previous period. What was most pleasing, however, was the fact that the numbers of sales were also up on the same period last year.

The Queensland market certainly appears to be on the road to recovery, helped in no small part by the necessary lowering of interest rates by the Reserve Bank of Australia throughout the year to help stimulate our economy.

As we head into the summer season, which in some areas such as the Gold Coast is the busiest time of the year, we are hopeful that this newfound optimism in our property market continues and that 2013 heralds more robust sales activity.

I hope that you all have a prosperous and safe New Year.

Anton Kardash is the REIQ’s CEO