March quarter figures from the Real Estate Institute of Queensland show the median house price on the Coast didn't fall or rise for the first time in months.

The zero growth rate, with the median at $455,000 has been hailed as a signal for investors to start buying into the local market again.

However, the city did not fare as well as others in southeast Queensland that recorded positive gowth, including Ipswich which went up 4.3 per cent.

The areas which were most attractive to first home buyers, such as the northern growth corridor suburbs of Oxenfrod and Helensvale , performed better.

The ritzy areas, however, such as Hope Ilsand, went backwards.

Despite the good quarter results, the year-on-year figures remained in negative territory, with the median house price falling 4.1 per cent to $470,000.

REIQ chairman Peter McGrath said the Coast market had been the first hit by the downturn and sufferered the biggest falls, but now it would lead the way in recovery.

"This quarter is the first in the last twelve months where we have stopped dropping," he said.

"We've seen the stabilisation of the market which is a positive sign for the Gold Coast real estate."

Mr McGrath said the flat-lining meant investors would start coming back this year, after avoiding the city since December 2007.

Midwood Report author Bill Morris agreed that the latest figures were positive, and predicted prices would start turning around in late 2010, before peaking in 2011.

Mr Morris siad house prices would rise between 20 and 30 per cent at the peak in early 2011.

Although that was good, it was nowhere near the bottom of 2003 when prices increased by up to 100 per cent, he said.

Mr McGrath said first home buyers had helped stabilise house prices in two ways.

They were buying new or established homes in suburbs such like Gaven, Nerang and Oxenfrod and buying properties from home owners who themselves then upgraded in the inner suburbs such as Parkwood, Burleigh waters, Broadbeach Waters, Benowa and Ashmore.

The best performing suburb on the Gold Coast in the last quarter was Clear Island Waters, which went up 24 per cent.

The worst was Paradise Point which fell 22.4 per cent.

In the March quarter, the Federal Government gave out 1224 first-home-buyer grants for established homes on the Gold Coast, and 88 for new homes.

"That's a substantial amount of new hom es," said Mr McGrath.

"Without the boost the figures would have been half that."

He said 65 per cent of properties sold on the Gold Coast were under $500,000 and 31 per cent were between $500,000 and $1 million.