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REIQ reports strong house sale data

House sales are increasing in Queensland.

The Real Estate Institute of Queensland (REIQ) has revealed a significant increase in the number of house sales in the state, with the latest quarterly figures the highest witnessed in the last two years.

REIQ chief executive officer Anton Kardash highlighted a five per cent rise in comparison to the same period last year, claiming many buyers have been holding off from making purchases as a result of returning stamp duty concessions.

In addition, many Aussies have been waiting to see whether interest rates would fall further.

Mr Kardash added: "Historically, of course, the September quarter is the spring selling season so activity is usually higher than during winter."

Elsewhere, the Housing Industry Association recently highlighted growth in the number of new home sales in Western Australia for September this year. Overall, the region saw a 2.8 per cent rise in new homes coming to the market in comparison to the same month in 2011.

Posted by Steve Douglas

- property, REIQ, sales, winter

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