Coast housing value hits $74b as confidence returns
THE value of Sunshine Coast homes have hit $74 billion, according to the latest property data released by the Real Estate Institute of Queensland.
And the total value of residential real estate in Queensland is set to break through the $800 billion barrier.
REIQ head Anton Kardash said Queensland now accounted for more than 15% of the nation's residential housing, estimated at $5.2 trillion.
He said Brisbane was rapidly approaching the $400 billion mark, with regional Queensland accounting for the remainder of the State's residential real estate wealth.
"Queensland residential housing is more popular than ever with investors, who see an enormous upside as confidence rebounds in the local real estate market," Mr Kardash 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.
Stronger buyer sentiment and sales activity were helping the Gold Coast and Far North Queensland.