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Hot property: Why Queensland is seeing a boom in local real estate

Article image for Hot property: Why Queensland is seeing a boom in local real estate

The sunshine state is seeing a booming real estate market both for rental properties and sales. 

The CEO of the Real Estate Institute of Queensland, Antonia Mercorella, said there were predictions of a crash in the housing market.

“What we have seen is the exact opposite, the market has never been so busy, both rental and sales markets,” she told Scott Emerson on 4BC Drive.

She said low interest rates were contributing.

“Queensland is the number one destination for interstate migration, and COVID has really accelerated that interstate demand. We have never seen so many buyers from Sydney and Melbourne snapping up our properties.”

She said the real winners were those looking to downsize.

And there were no signs of it slowing down.

“I don’t think we will see that interstate migration dropping off, in actual fact, the data we have seen is indicating that interstate demand is up 25 per cent. I think once those border restrictions completely cease, we will see a lot more of that interstate activity.”

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