This made me smile, with Queensland residential sales reported as hitting a record "all-time four year high". From the Urban Developer:
The Queensland figures are also a little skewed - given the truly desperate state of some regional Queensland markets, Brisbane is doing a little better than the statewide figures suggest.
If we blank out the noise generated by the other capital cities in the chart below, we can see that since hitting their most recent trough in June 2012, Brisbane dwelling prices have recorded 10 consecutive quarters of steady dwelling price growth totalling 13 percent.
As the above chart shows dwelling prices have increased by 17.7 percent in the past 6 years, which is compounding annual growth of ~2.75 percent.