Gladstone property market stalls despite buyer confidence

THE Gladstone residential property market is struggling compared to the rest of the state.

Queensland's overall property market has enjoyed steady growth in the year to March amid increasing buyer confidence, according to the Real Estate Institute of Queensland.

The REIQ March quarter results showed all but three of the major regions across Queensland posted a steady or better median house price result over the year.

But in Gladstone median prices fell 0.6%, while Mackay's were down 1.2%. Bundaberg saw its median drop 3.8% to $269,500 over the March quarter.

Even neighbouring Rockhampton performed better, with the median house price up 3% to $329,500.

In comparison, for the full year from last March, Brisbane's median house price increased 5.9%, on the back of increased sales activity over the period.

REIQ CEO Anton Kardash said the results showed Queensland's real estate market was in recovery.

"Median prices are on the rise and properties are selling quicker throughout Queensland as buyers take advantage of more favourable market conditions," he said.

In the remaining major regional centres, sales activity continues to ease, but median house prices remained relatively steady for most.



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