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The REIQ report attributed the poor performance to the mining downturn and a declining population in the regions . In contrast, Brisbane's average house price hit a new high of $665,000 this year, up from $505,000 five years ago. REIQ spokeswoman Felicity Moore said the increase represented "consistent growth for the market". "This is remarkable given there's been some economic forces that have been detracting from the state's economy," Ms Moore said. House prices on the Gold Coast also grew steadily, improving 6.8 per cent to $620,000 in the year to June. The REIQ report said State Government investment and construction in the lead up to the Commonwealth Games had boosted the local economy. The only blip on the radar in the south-east was Brisbane's unit market which fell almost 3 per cent due to increased supply and falling demand . Ms Moore said in the regions, any future housing recovery would be closely tied to the local economies and populations. "When jobs dry up, people leave town and that means there are houses in oversupply and that's what has happened," Ms Moore said. "There are several mines that are setting up and Mortgage brokers Oak Laurel Carseldine, 0430 129 662 ramping up their production levels … this is going to attract workers back to the area. "Typically [workers] will rent, so you'll see vacancy rates drop a little bit and then they'll move into buying once their job security is a bit more firmly established." She predicted that barring any disruptive events — such as a state election — regional communities should start to see recovery in the market.
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