Warm and sunny Queensland has seen a very respectable period of growth over the last 12 months, leaving median house prices at $445 thousand across the state. Brisbane, split down the middle by the Brisbane River, has enjoyed an increase in house prices of 2.8%, though units have taken a moderate slump of 3.8%, suggesting that real estate agent fees may fall slightly in the housing sector, but increase marginally for units. On the eastern coast, next to beautiful holiday destination, Fraser Island, Hervey Bay has shown interesting results, with only one property having been sold over the last year.
There has been a change in the government regulations concerning real estate fees, as of December 1st 2014, whereby agent fees are now deregulated. There is now no cap on the maximum price that a real estate agent fee can be set, meaning that rural and regional areas, like tropical northern coast city, Port Douglas, on the Great Barrier Reef, may encounter higher fees, due to lower property values and fewer agents in competition with each other.
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