Regional Queensland Is On The Rebound
Property prices in Queensland regional towns are starting to move according to realestate.com.au. Big spending on hospitals, police facilities etc are driving a new boom.
A massive driver of growth from Dept.of Infrastructure alone.
The widespread cooling of Queensland regional property market is starting to thaw – realestate.com.au
Sales levels may still be down in some major regional centres, but the latest CoreLogic quarterly regional market report revealed values were on the way up on the Gold Coast and Sunshine Coast and the decline had stopped in Cairns.
Average time on the market was also on the way down on the Gold Coast, falling two days for houses and four for units.
On the Sunshine Coast current sales volumes were 6 per cent higher than the five-year average for the region. Compared with this time last year, both houses and units were selling faster, with a house selling within 79 days, compared with 87 at this time last year.
In the Wide Bay region values remained steady for houses and unit values dropped by about 1.2 per cent. Sales levels were similar to last year and it took, on average, 108 days to sell a house.
Cairns house values remained steady, but homes were taking an extra 11 days to sell compared with last year.
Mr Kusher said although Cairns figures were pretty flat it was probably the best-performing region outside the southeast corner. He said on the Gold Coast, a lot of buyers were coming from interstate.
“And I think it is a bit of a combination. Some people leaving Sydney and Melbourne to move to southeast Queensland, but also I think (it’s) some of the people with all of that equity in their properties in Sydney and Melbourne looking to buy coastal properties on the Gold Coast and obviously some of them on the Sunshine Coast as well.’’ Via realestate.com.au
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