Brisbane homes are selling faster than they did a year ago, and the city is the fastest-selling area in Queensland, new data from the Real Estate Institute of Queensland reveals. Brisbane homes are, on average, spending 57 days on market, an improvement by eight days compared with a year ago. The capital city also had the strongest lift to median house values for the year ending March 2015. Brisbane (LGA) median house values have risen by 1.6 per cent over the quarter, and, along with Toowoomba, this was the highest quarterly increase. Brisbane (LGA) proportion of profit-making sales increased three percentage points to 96 per cent, compared with a year ago.

“This report supports the REIQ’s long-held view that those areas of Queensland that have been doing well are continuing to do well," said REIQ CEO Antonia Mercorella. “Those areas that are struggling to recover from the resources downturn are still trying to stabilise. But what we don’t have is the start of another boom and bust cycle, which, as we all know by now, doesn’t really benefit anyone in the long term.”

Outside of Brisbane, Toowoomba is the fastest selling region, with days on market at 63 days, and the Garden City continues to hold the lowest vendor discounting rate of 4.7 per cent. Toowoomba's quarterly growth in median house values is the strongest in the state, averaging an increase of 1.9 per cent over the past four quarters. Brisbane, the Gold Coast, the Sunshine Coast, Toowoomba and Cairns all showed rising annual median house values of approximately 1.5 to 1.9 per cent on average each quarter over the past year.