Wide Bay property market surges as regional QLD brings growth

Property markets in regional Queensland, particularly in two Wide Bay cities, continued to perform strongly, according to the latest Hotspotting Price Predictor Index.

Regional markets never stay at the top or bottom of market cycles forever but there are some clear property winners and losers at present.

Property markets in regional Queensland, particularly in Hervey Bay and Bundaberg, continued to perform strongly, according to the latest Hotspotting Price Predictor Index.

The PPI Spring analysis released this week highlighted that regional markets across Queensland were “firing on all cylinders,” with 64 per cent of the markets outside Brisbane experiencing positive sales patterns, and only 13 per cent showing negative rankings.

Hotspotting Director Terry Ryder said as many markets fired up during the spring selling season, the best property markets continued to be those offering affordability as well as strong fundamentals, such as solid population growth, robust local economies, and diversity of housing stock on offer, including units.

“Brisbane, Adelaide and Perth have been the market leaders for dwelling price growth for the past year or two, and this state of play is set to continue – with increasing pivots to units – as well as minor moderations in property price rises,” Mr Ryder said.

Hotspotting director Terry Ryder said as many markets fired up during the spring selling season, the best property markets continued to be those offering affordability as well as strong fundamentals, such as solid population growth, robust local economies, and diversity of housing stock on offer, including units.

Regional Queensland markets were benefiting from similar dynamics, making them among the top performers.

The PPI noted that areas such as the Gold Coast, Sunshine Coast, Toowoomba, Rockhampton, Mackay, Bundaberg, Hervey Bay, Townsville, and Cairns were all experiencing busy or “in some cases, frenzied” property markets.

It also identified weaker markets across the country, particularly in Tasmania and Victoria, where new property laws and taxes had contributed to sluggish or declining property prices.