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Market Update from the Principals Desk

By Cathy Pieroz

Vendors show confidence in real estate market

IN a vote of post-election confidence, homeowners have put up their for sale signs in force across Queensland this week with a spike in new listings.

Real Estate Institute of Queensland (REIQ) chief executive Anton Kardash said new property listings on reiq.com had jumped a staggering 40 per cent since last Thursday compared with the same period before the election, with more on the way.

“Nearly 6000 of the 95,000 listings on reiq.com over the past week are for new properties, which is a huge increase on the week before,” Mr Kardash said.

He said spring was shaping up to be a spectacular selling season.

“We have predicted for some time that once the election was behind us and there was a majority government elected, then the Queensland market would kick into third gear,” he said.

“Sales volumes are also increasing, interest rates are low and consumer confidence is on the rise.”

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