REIQ Press Release

Queensland’s residential property market has regained some of the ground it lost following the natural disasters earlier this year, according to the Real Estate Institute of Queensland (REIQ).

The REIQ June quarter median house price report (that deals with houses, not apartments) found that preliminary sales numbers in many areas across the State are on the road to recovery, however, property price growth remains relatively subdued.

While the preliminary number of house sales in Brisbane over the June quarter was up seven per cent compared to the March quarter, the standout for increased house sales in South East Queensland was the Logan region, which recorded a 22 per cent increase over the period.

Rentals

After the temporary surge in demand for rental properties following the natural disasters at the start of this year, Queensland’s rental market has returned to a more even keel, according to the Real Estate Institute of Queensland (REIQ).

The REIQ residential rental survey conducted at the end of June has shown vacancy rates across most of the state returning to more normal levels following the extreme weather conditions and peak demand of earlier this year.

The Residential Tenancies Authority’s (RTA) latest median rents for the June quarter also show total residential bond lodgements easing, as well as rents stabilising, for most major regions across the State.

“In some other much-needed good news for our property market, investors are also again starting to take an interest in Queensland. The latest ABS lending finance figures show the number of investment dwellings financed in Queensland over the June quarter increased about 16 per cent with investors now accounting for 30 per cent of the market.”

In Brisbane City, vacancy rates across the local government area (LGA) have eased to 2.1 per cent however this easing in rental demand occurred in the middle to outer-ring suburbs alone.

Agents in the inner Brisbane suburbs report units are letting much more quickly, with young professionals in particular willing to pay higher rents for inner city living and modern accommodation.

Vacancies are currently taking one to two weeks to relet in the inner suburbs while other parts of Brisbane are taking a fraction longer, according to property managers at REIQ accredited agencies. On average, listings are receiving two to five applicants across the LGA.

Source: REIQ Press Release

Lower Demand Eases Apartment Market

REIQ Press Release:

The Queensland unit and townhouse market has not been immune from this year’s natural disasters and patchy economic conditions, according to the Real Estate Institute of Queensland (REIQ). According to the REIQ’s March quarter Queensland Market Monitor report, median unit and townhouse prices eased across much of South East Queensland during the first three months of 2011.

While a number of regional centres bucked this trend to record positive growth, this was mainly due to the construction of new unit or townhouse developments, or the sale of more expensive existing stock, in these areas over the period. The number of preliminary unit and townhouse sales in Queensland decreased 15 per cent over the March quarter.

“The unit and townhouse market has been impacted by lower numbers of first home buyers and investors, who are the type of buyers usually the most interested in this more affordable segment of the market,” REIQ chairman Pamela Bennett said.

“First home buyers continue to languish at about 15 per cent of the Queensland residential property market, while investors appear to have adopted a wait-and-see approach until a clearer picture emerges on interest rates and the economy. The prestige market is also struggling with the number of preliminary sales of units and townhouses for more than $1 million across Queensland dropping about 40 per cent compared to the December quarter. “

The median unit and townhouse price in Brisbane eased 1.4 per cent to $395,000 over the quarter. On the Gold and Sunshine coasts, the median unit price decreased 2.7 per cent to $355,000 and 2.1 per cent to $350,000 respectively.

“REIQ agents continue to report a significant drop in demand compared to the same period last year, but this is creating wonderful opportunities for buyers with many sellers having to be very realistic about what price they can achieve in the current conditions if they want to make a sale,” Ms Bennett said.

REIQ Says Bottom of the Market for Queensland Real Estate

The REIQ, which is trade association for real estate agents, says that now is the time to buy because it is the bottom of the market.

"The majority of Queensland’s property markets are currently at, or near, the bottom of their real estate cycles due to the continued economic conservatism amongst the population as the national economy appears to not be out of the woods just yet – a situation further compounded by the natural disasters earlier this year.

According to the Real Estate Institute of Queensland (REIQ), with property prices and buyer demand subdued, the current market is providing opportunities not experienced for more than a decade.

“There is no denying that a correction in property prices has taken place over the past 18 months to two years in many areas as the delayed impacts of the Global Financial Crisis unfortunately coincided with Queensland’s summer of natural disasters,” REIQ chairman Pamela Bennett said.

“In the majority of cases, sellers currently have to be very realistic about what price they can achieve for their property, which is putting Queensland buyers in the box-seat for the first time in many years. While it is sometimes a natural reaction to hesitate when market conditions are not strong, any buyer wanting to invest over the long-term would be hard-pressed to encounter better opportunities than the ones that are presently available.”

House Sales Down

An REIQ report says that house sales are down. This report is for houses (not apartments). See Courier Mail. From the REIQ press release:

The natural disasters earlier this year, coupled with the higher interest rate environment, resulted in a weaker March quarter for residential property, according to the Real Estate Institute of Queensland (REIQ). The impact of the Queensland floods was keenly felt in affected Brisbane suburbs over the period with many suburbs not recording enough preliminary sales for a reliable median house price to be calculated.

The REIQ’s March quarter median house price report found that out of about 50 Brisbane suburbs reportedly flood-affected, only 17 recorded a minimum of 10 preliminary sales to allow a median house price to be calculated. The biggest drops in preliminary sales occurred in Moorooka, Graceville and Kenmore when compared to the December quarter last year.

“Many would-be sellers in these areas have wisely either taken their homes off the market – even if they were not flooded – or decided they will ride out any market reaction to properties in flood-affected areas,” REIQ chairman Pamela Bennett said. “While some affected Brisbane suburbs did record a drop in preliminary sales, a number of others that were partially flooded continued to record steady sales over the quarter, which is a testament to the continued desirability of living in locations such as New Farm and West End. About 75 per cent of Brisbane was not affected by the floods and these areas are continuing to record steady sales and results.”

Over the March quarter, the Queensland property market remained soft with sales numbers down about 14 per cent compared to the December quarter last year.

The Brisbane median house price decreased 1.9 per cent to $515,000 over the quarter. Preliminary sales numbers were down about 15 per cent on the previous quarter.

The Gold Coast’s median house price remained steady at $490,000 over the quarter and was also one of the few areas across the state to record a stable number of preliminary sales.

“The majority of Queensland is still very much a buyer’s market,” Ms Bennett said.

The Queensland Rental Market

Extract from REIQ press release:

'Queensland’s residential rental market has absorbed the impacts from this year’s natural disasters however demand is starting to tighten in some areas due to lower buyer activity, according to the Real Estate Institute of Queensland (REIQ). The REIQ’s March residential rental survey has found vacancy rates have continued to tighten over the past six months as more and more buyers stay on the sidelines.

“The floods did have a temporary impact on the rental market, but the REIQ rental survey has found this was mainly confined to flood-affected areas,” REIQ chairman Pamela Bennett said.

“However, the rental market is starting to be affected by the subdued property market given the low number of first home buyers and investors’ means there is more demand and less supply in the rental market. This also occurred in 2008 when high interest rates deterred buyers so it is not difficult to ascertain that the current economic conditions and the rapid nature of rate rises last year are having the same effect this year.”

The REIQ March rental survey, as well as statistics released by the Residential Tenancies Authority (RTA), have shown that the Brisbane rental market, while tighter, is not as dire as many anticipated.

The rental survey found vacancy rates for the Brisbane City local government area tightened in March, coming in at 1.8 per cent, down from 2.6 per cent in September last year.

RTA statistics for the start of this year largely illustrate drops in bonds lodged in suburbs directly affected by the floods, while January in general was a quieter month across the Brisbane area as many renters chose to stay put following the floods.

While median weekly rents were up significantly in some flood-affected Brisbane suburbs during January, Brisbane as a whole recorded steady rents and a drop in the total number of bonds lodged for the month.

“With reduced rental accommodation in their immediate area, many tenants and homeowners displaced by the floods had to look to other suburbs for accommodation in January and February,” Ms Bennett said. “However, REIQ agents in unaffected suburbs reported that this did not result in any significant increase in rental demand in their local areas.”

RTA statistics show that demand for three and four-bedroom houses increased following the floods, while the two-bedroom unit rental market remained relatively stable. In general, REIQ agents are now reporting that the rental market has begun to return to normal conditions.'

See also The Australian

REIQ Sales Report

Region	Median Sale Q4.10	Qtrly change	Median Sale 12mths Q4.10	Median Sale 12mths Q4.09	1yr change
BNE (SD)	$380,000	1.3%	$379,950	$362,000	5.0%
BNE (LGA)	$400,500	-1.8%	$407,000	$386,500	5.3%
AUCHENFL	$447,500	4.1%	$430,000	$430,000	0.0%
BNE CITY	$485,000	-4.9%	$460,000	$423,500	8.6%
CHERMSIDE	$415,000	8.1%	$426,250	$407,500	4.6%
The VALLEY	$375,500	-4.9%	$400,000	$402,500	-0.6%
INDO	$460,000	2.4%	$465,000	$435,000	6.9%
KANGAROO PT	$408,000	-25.8%	$505,000	$450,000	12.2%
NEW FARM	$531,500	4.2%	$525,000	$460,000	14.1%
PADDO	$407,500	N/A	$420,000	$444,000	-5.4%
Sth BNE	$472,500	2.3%	$445,000	$399,250	11.5%
SPRING HILL	$391,063	10.9%	$390,000	$390,000	0.0%
ST LUCIA	$447,065	5.2%	$440,000	$448,750	-1.9%
TARINGA	$427,500	-2.8%	$426,750	$399,500	6.8%
TOOWONG	$407,000	-4.3%	$435,500	$415,000	4.9%
WEST END	$520,000	-3.0%	$530,000	$509,000	4.1%

REIQ Queensland Unit Report

"The Queensland unit and townhouse market held its ground over the December quarter last year, even as the number of investors and first home buyers remained relatively subdued.

Completing a trend throughout 2010, the last three months of the year were characterised by lower overall buyer demand, particularly from the type of buyers who typically target the unit market.

Similar to the house market over the December quarter, Real Estate Institute of Queensland (REIQ) figures show unit sales across the State easing over the quarter however some regions fared better than others.

“The unit and townhouse market at the end of last year was impacted by less overall demand from investors as well as the lower number of first home buyers in the market compared to the same period in 2009,” REIQ acting CEO Ian Murray said.

“Although we have experienced a number of natural disasters in Queensland in the beginning of 2011, it is hoped that the steady interest rate environment and the stable property pricing that now appear to be in play will result in a strengthening unit and townhouse market by year’s end.”

...

In Brisbane and surrounds broadly, a drop in the number of unit and townhouse sales occurred predominantly within the $350,000 to $500,000 price bracket which is the price range usually targeted by first-timers and investors.

The inner city continues to be the most sought after for units in Brisbane with Brisbane City recording 76 preliminary sales, New Farm recording 48 preliminary sales, and Fortitude Valley recording 33 over the period.

Over the December quarter on the Gold Coast it was the bottom and top end of the market that performed the best with preliminary sales increasing in the sub $250,000 price bracket and the $1 million-plus price bracket compared to the September quarter. Surfers Paradise and Broadbeach were the star performers with each recording 20 more preliminary sales than the previous quarter.

On the Sunshine Coast, Sunshine Beach and Caloundra recorded increases in preliminary sales numbers, while the region as a whole saw unit sales numbers hold steady."

Capital Growth

The potential for future capital growth remains the number one incentive for Queensland property investors, according to new research from the Real Estate Institute of Queensland (REIQ).

The REIQ conducted buyer and seller behaviour research late last year which found capital growth was the top reason for buying an investment property in Queensland for 74 per cent of buyers.

The next most common reasons to buy investment property were to fund retirement; for negative gearing purposes; as a means of deriving an income stream; or because they believed it offered a better long term return than shares or super.

Apartment Sales Data

Double click image to make larger.

Real Estate Agents Say Ideal Conditions for Investors

The real estate agents industry lobby group, REIQ, issued a press release today, putting a positive spin on apartment sales in Queensland:

"Reduced demand for investment properties is providing ideal conditions for buyers, according to the Real Estate Institute of Queensland (REIQ).

Over the September quarter, median unit and townhouse prices held steady in most areas of the state, while demand for properties usually targeted by investors and first home buyers reduced markedly as economic conditions and higher interest rates sidelined buyers.

Preliminary sales in the $350,000 to $500,000 price bracket across the State fell more than 20 per cent compared to the June quarter while sales in all other price brackets held their ground.

“The number of first home buyers has fallen since their high of last year, however, we anticipate demand from first-timers to continue to gradually increase next year,” REIQ managing director Dan Molloy said.

“Investors have also been sitting on the sidelines, with investment demand currently half of what it is was during 2007.

“Investors and first home buyers are usually competing for the same affordably-priced properties but the current lack of competition between these two buyer types has created ideal buying conditions, especially for investors.”

REIQ Report

"Two years on from the beginning of the Global Financial Crisis, Queensland’s residential property market has ridden the wave of economic uncertainty and come out the other side with prices now back at pre-crisis levels.

However, the Real Estate Institute of Queensland’s (REIQ) June quarter median house report shows continued tough market conditions with the preliminary number of sales across the state down by about five per cent compared to the previous quarter. Most areas of the state recorded minimal median house price changes over the period."

“Agents have been reporting quieter market conditions since about early April when the string of interest rate increases began to have a negative impact on the market. Uneven economic data is also starting to worry consumers with many buyers currently happy to sit on the fence until a clearer economic picture emerges.”

While sales activity is currently subdued compared to last year, the REIQ June quarter report found property prices in most areas of the state are now on par with what they were two years ago.

“Over the past two years, Queensland’s median house prices have jumped up and down depending on the types of buyers in the market at the time,” REIQ managing director Dan Molloy said.

“Last year, the numbers of first-timers in the market was higher than usual, so correspondingly the median went down given they bought cheaper properties. This year, there has been a return to a more even distribution of first and non-first home buyers in the market so the medians have increased accordingly.

“This change in buyers, and the types of properties selling, has unfortunately given the false impression there has been robust property price growth when prices are now really where they were two years ago.”

Brisbane’s continued population growth has underpinned the capital city’s performance over the past two years with its median house price increasing about 9 per cent to $530,000 for the year ending June 2010.

REIQ - December Qtr 2009

Locality	Median Dec Qtr 09	Change over qtr"	Median 12 months to end of Dec 09	Change over 1yr"	Change over 5yrs
BRISBANE (SD)	$381,500	4.5%	$362,000	2.3%	42.5%
BRISBANE CITY (LGA)	$400,000	2.7%	$386,500	1.0%	38.0%
ALBION	N/A	N/A	$395,000	6.8%	59.6%
BOWEN HILLS	N/A	N/A	$418,250	-1.6%	28.7%
BRISBANE CITY ~ *	$456,000	2.0%	$423,500	-7.9%	10.6%
FORTITUDE VALLEY	$421,000	8.8%	$402,500	7.9%	33.6%
GAYTHORNE	$336,250	-3.7%	$342,000	0.0%	57.2%
INDOOROOPILLY	$472,500	8.6%	$435,000	12.4%	40.3%
KANGAROO POINT	$497,500	5.2%	$450,000	-2.6%	23.3%
NEW FARM ~	$549,000	20.3%	$460,000	-3.2%	29.0%
NEWMARKET	N/A	N/A	$416,000	6.4%	44.7%
NEWSTEAD *	$545,000	2.6%	$530,000	-1.2%	43.2%
SHERWOOD *	$400,000	-16.0%	$427,700	N/A	71.1%
SOUTH BRISBANE ~ *	$388,750	-5.2%	$399,250	-8.2%	19.5%
SPRING HILL ~	$347,500	-13.1%	$390,000	5.8%	47.2%
ST LUCIA ~	$403,000	-12.4%	$448,750	-1.4%	60.8%
TARINGA	$422,500	6.4%	$399,500	8.0%	53.6%
TOOWONG	$430,650	1.3%	$415,000	0.4%	43.1%
WEST END *	$504,500	-2.0%	$509,000	-9.9%	64.2%

Apartment Sales Soften - REIQ

Continuing a trend in Queensland’s residential property market, the number of sales of units and townhouses reduced markedly during the tail end of 2009, according to the Real Estate Institute of Queensland (REIQ). The REIQ research report, Queensland Market Monitor (QMM), has found the number of preliminary sales of units and townhouses fell 24 per cent between the September and December quarters last year.

The number of sales under $500,000 was also down 28 per cent over the period.

REIQ managing director Dan Molloy said the drastic reduction in sales – especially in the affordable price range – mirrored the retreat of first home buyers from the market.

“Unit and townhouses are popular with first-time buyers as they provide a less expensive way into the property market, especially in South East Queensland,” he said.

“However, first home buyers have now fallen to lows not seen since the high interest rate environment of mid 2008 which means demand for this segment of the market has lessened.”

The latest Australian Bureau of Statistics housing finance figures show that lending for all Queensland buyers fell dramatically in January to be down some 20 per cent on the year before.

“The recent batch of interest rate rises, even though inflation appears to presently be under control, is obviously having an impact on the Queensland market with sales numbers well below what they were during the global financial crisis last year,” Mr Molloy said.

Across the State, the December quarter median unit and townhouse prices edged upwards as sales in the affordable end of the market softened.

Reiq Unit Statistics

Locality	Median Sep Qtr 09	Change over qtr"	Median 12 months to end of Sep 09	Median 12 months to end of Sep 08	Change over 1yr"
BRISBANE (LGA)	$389,500	1.9%	$380,000	$385,000	-1.3%
BRISBANE (SD)	$365,000	2.5%	$355,000	$355,000	0.0%
ALBION	N/A	N/A	$385,000	$375,000	2.7%
ASCOT	$385,000	5.0%	$377,448	$417,500	-9.6%
AUCHENFLOWER	$395,000	-12.2%	$429,500	$407,000	5.5%
BOWEN HILLS	N/A	N/A	$420,000	$422,500	-0.6%
BRACKEN RIDGE	N/A	N/A	$349,750	N/A	N/A
BRISBANE CITY ~	$447,000	27.4%	$420,000	$450,000	-6.7%
FORTITUDE VALLEY	$387,000	-11.0%	$397,500	$365,000	8.9%
HAMILTON ~	$450,000	16.9%	$410,000	$462,500	-11.4%
INDOOROOPILLY	$435,000	11.1%	$422,000	$401,750	5.0%
KANGAROO POINT	$473,000	12.0%	$418,500	$475,000	-11.9%
KELVIN GROVE ~	$408,500	-24.4%	$430,000	$399,000	7.8%
NEW FARM	$456,500	4.8%	$445,000	$487,500	-8.7%
NEWSTEAD	$531,000	0.2%	$530,000	$530,000	0.0%
PADDINGTON ~	$467,900	20.7%	$431,250	$440,000	-2.0%
SHERWOOD *	$475,937	39.0%	$425,000	$349,500	21.6%
SOUTH BRISBANE	$410,000	1.9%	$399,000	$450,000	-11.3%
SPRING HILL	$400,000	0.0%	$384,000	$385,000	-0.3%
ST LUCIA	$460,000	1.1%	$442,500	$450,000	-1.7%
TARINGA	$397,000	-0.5%	$389,000	$370,000	5.1%
TOOWONG	$425,000	-5.1%	$391,000	$415,000	-5.8%
WEST END	$514,990	1.0%	$520,000	$565,000	-8.0%

REIQ June 2009 Brisbane Apartment Gross Yield Report

Locality	Weighted average median¹	Median Rent /Wk	Annualised Median Rent²	Gross Rental Yield
Brisbane City/Spring Hill	$360,676	$540	$28,080	7.8%
Buranda/Dutton Park/Gabba	$337,000	$380	$19,760	5.9%
East Bris/Kangaroo Point	$401,306	$435	$22,620	5.6%
Highgate Hill/Sth Bris/WEnd	$440,704	$460	$23,920	5.4%
Bowen Hills/Valley/Newstead	$472,500	$450	$23,400	5.0%
St Lucia	$455,000	$415	$21,580	4.7%
Indooroopilly/Taringa	$395,150	$360	$18,720	4.7%
Paddington	$387,500	$350	$18,200	4.7%
New Farm	$435,750	$390	$20,280	4.7%
Ascot/Hamilton	$372,869	$325	$16,900	4.5%
Corinda/Sherwood	$361,500	$300	$15,600	4.3%
Auchenflower/Toowong	$448,455	$350	$18,200	4.1%
Chermside	$416,500	$320	$16,640	4.0%
Kelvin Grove/Red Hill	$493,103	$340	$17,680	3.6%

REIQ June 2009 Report

"Buyers are again looking to units and townhouses with sales numbers surging over the June quarter. The REIQ June quarter unit and townhouse results show sales numbers have rebounded in this segment of the market. REIQ June quarter preliminary sales numbers show that the number of sales in Brisbane were up 36 per cent; 22 per cent on the Gold Coast; 14 per cent on the Sunshine Coast; and increased a very impressive 48 and 46 in Ipswich and Logan respectively."

"“While sales numbers are up and there has been some price growth in some areas, this represents a property market in transition from the very tough conditions of the past year,” Mrs Bennett said. “These results show that outside influences are starting to no longer burden our market and that confidence is also beginning to return.”

"In Brisbane, solid performers for units and townhouses over the quarter were the inner-ring suburbs of Auchenflower, Toowong and Yeronga. Auchenflower’s median is up 11.8 per cent to $450,000 over the quarter, Toowong’s is up 12.7 per cent to $448,000, and Yeronga experienced 14.7 per cent median price growth to $393,500. Auchenflower and Yeronga also had healthy price growth over the year. Auchenflower and Toowong are both located within 5km of Brisbane’s CBD and have a mix of established and new unit complexes available. Yeronga is 7km south of the city and is in a prime position along the Brisbane River."

Brisbane City - Median Price June Qtr 09 - $351,000 - down 5.8% over one year.
Indooroopilly - Median Price June Qtr 09 - $391,500 - down 6.1% over one year.
New Farm - Median Price June Qtr 09 - $435,750 - down 15.7% over one year.
Sherwood - Median Price June Qtr 09 - $342,500 - up 2.3% over one year.
Taringa - Median Price June Qtr 09 - $398,800 - up 1.6% over one year.
Toowong - Median Price June Qtr 09 - $448,000 - down 4.6% over one year.

Gold Coast Bad - Midwood

On the Gold Coast, there were 79 new unit sales in the three months to May 2009, compared with just 49 the previous quarter. But it is a long way from the boom times of 2007 when 369 new units sold in the August quarter. The latest Midwood Queensland Investment Report says at current take-up rates there is more than four years' supply of new unit stock. In the past three months, nearly half of the new unit sales were in Meriton's Brighton on Broadwater project.

Midwood report author Bill Morris said most of these deals were in the sub $500,000 range, where the market was fairly steady.

Median price data from the Real Estate Institute of Queensland released yesterday reveals no change in the median price for units in the Gold Coast local government area.

The median of $345,000 for the March quarter is 3.4 per cent down on the previous year.

Real Estate Institute of Queensland chief executive officer Peter McGrath said price discounting had helped bring buyers back into the market at the upper end. "We've seen some receiver sales where people who bought a unit off the plan for $2.5 million, being sold for $1.6-$1.7 million," Mr McGrath said.

"Units that had previously been selling for $900,000 were getting $750,000."

In Brisbane, the unit market also is showing signs of improvement despite the median price for the Brisbane statistical division dropping 1.4 per cent over the quarter to $345,000. Over the year, the median has increased by 2.6 per cent.

There were 28 unconditional new apartment sales in Brisbane during the May 2009 quarter, the highest number since February last year. For the past 18 months, new unit sales have averaged 13 every three months.

The median price for all unit deals in Brisbane city has fallen 4.3 per cent to $440,000 in the three months to March 2009. Over the previous 12 months the median increased 1 per cent to $450,000.

The Australian and GC

Rental Yield for Brisbane apartments (REIQ December 2008 Quarter)

Postcode	Suburbs	Rank	Yield
4000	Brisbane City, Spring Hill	1	6.30%
4169	East Brisbane, Kangaroo Point	2	6.00%
4101	South Brisbane, West End	6	5.10%
4068	Taringa, Indooroopilly	7	5.10%
4006	Newstead, Fortitude Valley	8	5.00%
4066	Toowong, Auchenflower	9	5.00%
4005	New Farm	11	4.80%
4067	St Lucia	14	4.70%
4059	Kelvin Grove	18	4.50%
4007	Ascot, Hamilton	21	4.50%

REIQ Apartment Price Report for Brisbane - Dec Qtr 2008

As house prices escalated, units and townhouses were the most affordable – and often the only – option for first home buyers. But with the $14,000 and $21,000 boost monies now available, many first-time buyers can now afford to buy a modest house instead.

“This trend, plus investors not yet comprehensively returning to the market, means the unit and townhouse market has been affected by lower overall demand in the December quarter. Over the year, however, most areas recorded steady price growth,” REIQ chairman Peter McGrath said.

Brisbane City - Median December 08 Qtr - $460,000, with 2.2% increase over the Dec 07 results.
Indooroopilly - Median December 08 Qtr - $375,000, with 6.6% increase over the Dec 07 results.
Taringa - Median December 08 Qtr - $365,000, with 10.4% increase over the Dec 07 results.
Toowong - Median December 08 Qtr - $342,500, with 14.9% increase over the Dec 07 results.
West End - Median December 08 Qtr - $524,000, with 7.9% increase over the Dec 07 results.