From the CEO, 28th June 2023

With another decision on interest rates looming next week, this edition of the Journal looks at some recent impacts of interest rate hikes. Essentially, 12 rate rises since May last year have damaged confidence. Building approvals in Queensland for the year-to-date in April were 2,607 below last year. And lending indicators showed a 23 per cent decline in loans to owner occupiers this financial year with a decline of 27 per cent in investor activity. Additionally, data released by PEXA indicates that interest rate increases burden the young and advantage the old.

There’s only a little more than two weeks to go before nominations close for the 2023 REIQ Awards for Excellence, the most anticipated event on the Queensland real estate calendar. This is your chance to be rewarded for your outstanding achievements and recognised for being among the best of the best in Queensland. Our Auctioneer of the Year and Novice Auctioneer of the Year awards are returning and I encourage seasoned and budding auctioneers to take part. Heats and finals will take place on 30 August. For more information about the Awards for Excellence and to nominate, please click here.

I’m looking forward to our Commercial and Industrial Conference, which is only a week away. This is the first time the REIQ has run an event of this kind specifically for commercial real estate professionals. We’ve got an impressive line up of speakers who will provide you with invaluable insights into what’s happening in the sector to help you succeed. Make sure you register today. It would be great to see you there!

Read more from Antonia Mercorella: From the CEO 5th April 2023

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