New sales settlement data for the March quarter showed buyers headed back to the city, while the Queensland market benefited from interstate migration.
Queensland leads Australia’s property pack with almost 51,500 properties settling through the first quarter of 2022 in the Sunshine State, narrowly ahead of Victoria, according to new sales data fromSurfers Paradise was one of Australia’s most popular areas for buyers during the March quarter, 2022.
In a significant buyer shift, urban areas performed much stronger than regional locations in terms of sales volumes. The trend was most evident in Victoria where Melbourne sales volumes were up 7 per cent compared with a regional decline of 12 per cent.He said Queensland sales were being propelled by residents of Sydney and Melbourne moving north for cheaper dwellings and a change in lifestyle.
“That affordability gap really did grow and, of course, Queensland was very successful in limiting and restricting the spread of COVID compared with other states. Its property market benefited from that. Truganina topped the list followed by Cranbourne, Mandurah , Craigieburn, Werribee and Clyde. Rounding out the top 10 were Toowoomba, Surfers Paradise, Mackay and Bundaberg, all in Queensland.
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