Imported from 1 August 2005
A report in today’s Courier Mail suggests that the residential market in South East Queensland has bottomed and probably won’t recover any time soon. In fact the slump may not be over and new lows could be reached if New South Wales were to remove a tax on vendors.
One Queensland valuer went so far as to suggest that there are almost no first home buyers currently in the marketplace in Brisbane and that demand for houses in the $300,000 to $500,000 has dwindled.
What that means for Hervey Bay is still to be determined although housing prices and demand for housing here always seems to remain strong. The arrival of the jets might even lead to an increase in housing prices and some watchers suggest that we have already seen a slight rise in the cost of rental accommodation.