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Queensland records the highest number of property sale settlements this quarter

Market Insights
3 months ago
1 minutes

According to PEXA property reports, QLD has recorded the highest number of property sale settlements in the Sept-21 quarter - the standout performer amongst Australian mainland states. 

The report indicates that QLD was the only state to achieve positive quarter-on-quarter volume growth - recording over 59,410 sale settlements. This is a 3.4% rise from the previous quarter and a 42.5% rise from the previous year. The breakdown between Brisbane and the rest of QLD is 61.7% and 52.3%, respectively. 

A significant portion of the increased market interest can be attributed to the lockdowns across VIC and NSW, which has these buyers looking north for a lifestyle upgrade. 

Ventura Residences in Mermaid Beach, QLD are selling fast

Despite the lockdowns across VIC and NSW affecting both states’ otherwise buoyant markets, NSW achieved an aggregate value for sales settlements of over $71.2b this quarter. In comparison, VIC recorded the next highest aggregate value at $50.2b. 

Mike Gill, Head of Research at PEXA Insights, expects to see VIC and NSW property markets ramp up once lockdowns and restrictions are lifted; “if we look back at the trend line in 2020, we could expect to see volumes in these states bounce back once the lockdown restrictions are eased,” he said. 

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