Sirah Robb
March Market Wrap with Sirah
The national real estate landscape is buzzing with optimism following the Reserve Bank’s first rate cut since November 2020. Now sitting at 4.1%, this 0.25% decrease has strengthened confidence in the market, improving borrowing power for buyers and sellers alike.
The overall impact was immediate. The PropTrack Home Price Index – February 2025 revealed national home prices lifted 0.4% in February, reaching a new record high. This rebound erased the small declines seen nationally in previous months, with prices now sitting 3.94% higher than a year ago. Increased affordability, paired with renewed buyer confidence, has driven fresh demand and price growth. For buyers and sellers, the market is moving in a positive direction.
Queensland’s property market also continues to demonstrate remarkable strength. According to a recent REIQ report, house prices have surged, with the median price climbing by an impressive 5.9% – the highest quarterly growth since early 2022. This is mirrored in thriving regional markets as buyers increasingly seek value and lifestyle options outside the capital. Interestingly, Noosa remains the most expensive market in the state but also the slowest moving – at least for now – when looking at changes from one quarter to the next.
Locally we aren’t seeing any major impact from the first interest rate cut yet. Demand still outweighs supply, so our market is active but time on market is extending, particularly in higher price brackets. We expect to see more of an effect after multiple rate cuts.
Queensland’s remarkable resilience continues thanks to solid economic growth and a steady stream of new residents calling our state home. In 2023-24, our Gross State Product (GSP) grew by 2.1%, outpacing the national 1.4% rate. On the population front, we saw a 2.3% increase, with nearly 30,000 people making the move here from interstate – the biggest gain of any state and more than three times Western Australia’s numbers.
Closer to home, Hinternoosa has reaffirmed our position as the leading agency in the hinterland. We finished the year with double the sales volume of our nearest competitor, delivering premium prices and shorter days on market for our clients. Our property management team also excelled, leasing over three times more properties than our closest competitor – maximising returns for lessors while keeping vacancy rates low. Since the start of 2025, our team has been busy welcoming over 523 groups through our open homes, alongside 137 private inspections. These are impressive results but more importantly it reassures our existing and prospective clients they are in the best of hands with our proven strategies and highly skilled team.
As always, at Hinternoosa, we’re here to offer the expert guidance and personal service you’ve come to expect. Whether you’re buying, selling, or simply exploring your options, we’re excited to be part of your journey.