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REIQ media manager Felicity Moore said inconsistences in price growth throughout the city could be attributed to "supply issues". "When you see a price soften significantly, it could be that there's an additional level of stock developed, such as house and land packages that find more info meets the level of demand," Ms Moore said. Both the Gold Coast and the Sunshine Coast outperformed Brisbane in terms of house price growth. The REIQ report showed the Gold Coast recorded an overall increase in median sale price of 7.7 per cent and the Sunshine Coast achieved 5.9 per cent, while Brisbane only managed an average of 2.6 per cent. Ms Moore said the rediscovery of the beach "lifestyle markets" was somewhat overdue. "When you look at what those markets have to offer, the Gold Coast and Sunshine Coast are just world class coastal beachfront living at its best," she said. "They're not densely populated, they've both got world class beaches, great shopping and good schools and the amenities that go into those communities are of a very high standard." She said 2017 results positioned the Gold Coast as the strongest market in Queensland and among the top 10 nationally. "It's a similar story with the Sunshine Coast, although for years the level of supply going into that market has been a bit constrained," she said. "It's struggled from a long-time lack of construction of new dwellings and when there's demand building up it puts pressure on prices." The report indicated the mining downturn continued to impact parts of central Queensland. In Blackwater, the median sale price nosedived 70 per cent to just $36,000 last year, down from $120,000 in 2016. Five years ago, the average sale price was $450,000.
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