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Demand for housing in Queensland has slowed down - but not for long, according to forecasters.
New data from the Real Estate Institute of Queensland (REIQ) shows there have been fewer house sales in the June quarter, but prices have remained stable.
It seems home buyers in the sunshine state have been biding their time and waiting for the reinstatement of stamp duty concessions.
REIQ chief executive Anton Kardash said it looked as though there has been less activity in the housing sector between May and June.
This is likely because legislation to reinstate stamp duty concessions has already been introduced at a state government level and the concessions have now taken effect as of July 1 this year.
"The return of the concession meant home buyers, who were not first-timers or investors, could save up to $7,000 from 1 July, so it is little wonder that many decided to delay their purchases until after that date," Mr Kardash said.
Homebuyers will likely also be pleased to find there are many affordable suburbs around Greater Brisbane. The area of Moreton Bay has been the best performer posting median house price growth of 5.3 per cent to $379,000.
Market conditions for prospective buyers continue to grow more encouraging.
