Lack of first-time homebuyers stalls house prices in Queensland

THERE was little growth in Queensland's property values during the first quarter of the year with prices and transaction levels stagnating.Initial strong signs in January have not translated through to any substantial increases in median house prices, according to the latest Real Estate Institute of Queensland's March median house price report.Brisbane's median house price dropped by 1 per cent for the March quarter to $515,000 - up only 1 per cent on the same time last year.REIQ chief executive Anton Kardash said a lack of first homebuyers was having a strong effect on the market. Lack of first-time homebuyers stalls house prices in Queensland | The Courier-Mail