The Queensland Real Estate Institute (REIQ) reported that nearly 70 suburbs of Queensland recorded double-digit growth during the 12-month period ending in June, which goes to 39 percent. against the notion of real estate market that is cooling at the national level.
Antonia Mercorella, CEO of REIQ, shares this view, pointing out that the reality – where many state markets were performing exceptionally well – went against popular belief.
"A total of 68 suburbs in Queensland recorded double-digit growth over 12 months, which is a very good result," she said.
"And there are many more suburbs with strong single-digit growth. It's a great market to be in. "
The Queensland Market Monitor revealed that suburbs with earnings were found throughout the state, particularly in the southeast corner, central and northern Queensland.
It was pointed out that Blackwater was the best performing of these suburbs, with a growth of 151%. This was motivated by the rise in coal prices and the base's low starting point.
11 suburbs recorded annual price growth of more than 20%. Other than Blackwater, Spring Mountain (Ipswich), Collinsville, Minyama (Sunshine Coast), Hamilton, Hollywell (Gold Coast), Miles, Mount Coolum, Dundowran Beach (Fraser Coast), Boonah (Scenic Rim) and Idalia (Townsville) the list.
Antonia Mercorella, CEO of REIQ, is pleased that growth is not focused on one area. "This dispersion of the suburbs is a good indication that Queensland real estate realizes sustained and sustainable growth. We are seeing growth outside the southeast corner, "she said.
However, she also pointed out that values ​​in mining towns remain low compared to figures of five years ago.
"We are certainly seeing price rises in the mining towns of western Queensland, such as Blackwater, but these prices remain below their maximum. It is unlikely that pre-2013 prices will be restored in these areas in the near future, "she noted.
Looking closely at the data, it was found that there are two different price ranges that dominate the list of the most performing suburbs. First, there was a very affordable range with a price range of less than $ 350,000. The second range was the price range of over $ 500,000 and less than $ 750,000, which is generally the lifestyle of the family.
Eighteen of the most successful suburbs reported a median home price range of less than $ 350,000. Most of these suburbs are in regional Queensland.
Meanwhile, the median annual housing price of 18 of the top performers was found to be between $ 500,000 and $ 749,999. Thirteen of these suburbs are located in the southeast corner.
Finally, eight of the best-performing suburbs reported an annual median price range of over $ 1 million. All of these suburbs are located in Brisbane, Noosa or LGA Sunshine Coast.
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