Brisbane is experiencing growing housing affordability and a more balanced market, according to new data.
Harcourts Queensland CEO Aaron Brooks said low end priced property was strong, while top-end markets have struggled. "We are in a far more balanced market now, in my opinion. We are really seeing the market come together," Mr Brooks said.
"The first-home buyer market is very strong and investors are buying in the bottom-end of the market, which is enabling second-home buyers to actually move on and make purchases."
Investors who were not interested during December and January are now coming back to the market and the first home buyer market is very strong.
Data showing the property market is recovering and is not just surviving come from the Real Estate Institute of Queensland (REIQ) which shows housing affordability improvements.
In Queensland, the percentage of household income required to service the average mortgage was down from 41 per cent last June to just 30 per cent currently.
Brisbane has seen overall falls in property values with house prices falling 6.1 per cent in the year to the end of March, which is actually more than the national average and the fourth drop in a row.
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