Is the Queensland market boom over!?

According to realestate.com.au, in more than 100 Queensland suburbs, their median house prices have dropped since their peak. 

Is this a sign of the market's heavy rise going to a halt? 

In a data collated by the REA Group, in all 113 suburbs – they have determined that the market is experiencing a fall in house prices after reaching their peak prices. Which conveys 15 per cent of the state's 755 suburbs.

One of the most significant declines in values up north was in Airlie Beach, where median house prices reached back 8.42 per cent since their peak in December and are now at 3.8 per cent over 12 months. 
In Brisbane, the family suburb of Wilston is also showing signs of moderating, with values down 7.14 per cent from its peak of $1.32 million in December after 12.2 per cent growth over the past 12 months, meaning sellers are still ahead.

REA Group executive manager of economic research Cameron Kusher told realestate.com.au that price boost in Queensland is diverting, but prices in Brisbane were still rising faster than in Sydney and Melbourne.

"I wouldn't say the boom is over (for Queensland) but that peak growth has probably passed," he said.
"And most suburbs are still way above what they were even just six months ago."

REIQ CEO Antonia Mercorella suggested the market might "be stabilising".

"We have seen unprecedented growth across the state, and the fact that the suburbs are so widespread suggests we may have reached the peak, and the market might now be stabilising," she said.
"But we aren't yet seeing dramatic drops … there are other factors like talk of rates rising, the federal election, which may only have hit pause on the market.

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