Almost 70 Queensland suburbs delivered double-digit growth over 12 months to June, according to the latest REIQ research from the Queensland Market Monitor report.
Steve Worrad, General Manager, Queensland, Raine & Horne commented: “This is an outstanding result and indicates there are still many real estate pockets across Queensland producing strong results for investors and owner-occupiers.”
The top area delivering the most substantial growth was Blackwater, with 151% growth. This growth is a result of the resurgence in coal prices and the low base starting point.
Eleven suburbs reached an annual price growth of more than 20%. These suburbs were Blackwater, Spring Mountain (Ipswich), Collinsville, Minyama (Sunshine Coast), Hamilton, Hollywell (Gold Coast), Miles, Mount Coolum, Dundowran Beach (Fraser Coast), Boonah (Scenic Rim), Idalia (Townsville) and Minyama (Sunshine Coast).
On the Sunshine Coast, Michael Robinson, Principal of Raine & Horne Noosa Hinterland said the market close to the coast is doing well with Sydney and Melbourne buyers prominent. “Activity in the Noosa Hinterland has started to pick up again as Christmas is now looming large for buyers and sellers,” says Michael. “We’re seeing more buyer enquiries from retirees or those approaching the end of their working careers for smaller acreages of 1-5 acres valued between $550,000 and $950,000.”
Michael says recent listings are attracting plenty of attention. “If the new listing is a well-presented quality property requiring a modicum of work, it will attract plenty of buyer attention. Buyers are snapping up these lifestyle acreages even if they still have a few years of work left.”