Agent tips real estate price hike
THE auction hammers are polished and 'for sale' signs ready as Warwick real estate agents anticipate a boost in the local housing market.
LJ Hooker real estate principal Rob Finlay said economic conditions could see the strengthening of the local market, which will be music to the ears of anyone thinking of selling.
The Real Estate Institute of Queensland lists the median house price in Warwick at $215,000 for September last year, but Mr Finlay believes it will be much higher in this quarter.
"We've had a near record month in January, and we're looking for a good month in February as well," he said.
"I'm really positive about the market in Warwick. It's the best it's been in 18 months."
Mr Finlay also said the prices of higher-end properties were starting to move upwards, which would drive the median house price higher.
Despite uncertainty after the 2008 global financial crisis, median house prices in Warwick have continued to rise over the past five years.
The median sale price rose 10.8% from $227,000 in 2007, to $251,000 in 2011.
Mr Finlay said there had also been an increase in demand for rental housing.
"There's people on a waiting list to go in - that's the first time we've had that for a while," he said.
"As soon as we get rental houses, we fill them."
Mr Finlay said the majority of people looking to purchase or rent in Warwick were new to the Southern Downs region.
He said people were choosing to relocate to the area because of its relaxed lifestyle and the affordability of good-sized houses on large properties.