Queensland: Australia’s Most Active Property Market

According to the research by the online property exchange network PEXA, more homes were bought and sold in Queensland over the last quarter than in either NSW or Victoria, for possibly the first time in history.

With COVID-jaded Sydneysiders and Melburnians buying up big in the Sunshine State, as well as locals splashing out for their own sea and tree changes, $42 billion worth of property was settled from July to September – a staggering 93 percent up on last year.

“This is so rare to see, but Queensland just hasn’t experienced the extended lockdowns that have affected Victoria and NSW,” said Mike Gill, the head of research at PEXA.

“They’ve both had a lot of disruption around their real estate markets, but Queensland has powered through to become the standout performer and shows no sign of slowing down. So many people have been looking for lifestyle changes, and now they’re acting on them.”

“We’re seeing a lot of interstate migration into Queensland which has pushed up the sales figures there,” said Mr Gill. “When we look at the top 10 suburbs nationally for sales, Surfers Paradise made that list, and Greater Brisbane experienced 62 percent growth year-on-year for the month of August.”

Top performing suburbs included the Noosa region, Maroochydore, and Buderim; and the coastal strip along the Sunshine Coast in general has also experienced and continues to experience strong activity.