Qld property market subdued: report

Queensland's property market remains subdued outside booming mining centres, says the state government's chief valuer.

In releasing 1.6 million valuations to ratepayers, Valuer-General Neil Bray said most local government areas had recorded less than three per cent growth in average property prices.

Mr Bray described the Queensland property market as "generally subdued".

"The volume of property transfers recorded with the Registrar of Titles has decreased by 22 per cent over the past 12 months and is at its lowest level for a decade," Mr Bray said.

He said the Cassowary Coast Regional Council area in the state's far north had suffered a 13.7 per cent reduction in average property values, after Cyclone Yasi hit the region early last year.

However, Mr Bray said the resources boom was causing a spike in property values in central Queensland, with Gladstone Regional Council area recording a 19 per cent average increase - the state's highest.

Mr Bray said the relatively slow growth rate across the state was due to tight credit conditions, the high Australian dollar and moderate population growth.

Property valuations are an important factor when local councils calculate rates charged to landowners.

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