Central Qld river acreage in Boyne Island sells for $1.2 million
A riverside block in Central Queensland has become the second property to crack the million-dollar mark in the region this year. It comes as experts note a change in interstate migration. PHOTOS.
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An acreage block on the Boyne River in the Gladstone region has sold for $1.2 million in the second million-dollar sale recorded for the region in 2023.
The property at 365 Boyne Island Rd, Boyne Island, sold on July 20 through One Percent Property Sales.
This marks the second million-dollar sale seen in Gladstone in 2023, with 23 Scholes Way, Kirkwood, selling to local buyers for $1.19 million on February 3.
That property was a four-bedroom, three-bathroom designer home on 2.5 acres of land that overlooked the city with water and mountain views.
Situated on just under four acres with frontage to the Boyne River, 365 Boyne Island Rd offers four bedrooms, three bathrooms, open plan kitchen, living and dining area that opens to a large undercover entertainment area with high quality finishes throughout.
Landscaped gardens surrounded the home, with a small dam to the front supplying freshwater for irrigation and three sheds on the property.
The property is located directly across from the Boyne Island Golf Course and a short drive from Boyne Plaza.
INTERSTATE MIGRATION TO GLADSTONE SLOWED
Interstate migration to Gladstone appears to have slowed, according to Herron Todd White director of valuations Regan Aprile, who says most buyers have been local purchases or investors in the first half of 2023.
In Herron Todd White’s Month in Review Residential July 2023, Gladstone was reported as approaching the peak of the market on the national property clock for houses.
Mr Aprile said activity in the market remained consistent and demand remained reasonably strong.
“Multi offers are still being received on some property types, predominantly for good quality established family homes or rural residential properties typically in the $600,000 to $800,000 bracket,” he said.
“The days of most property types getting multi offers are definitely behind us.”
He said the market continued to show signs of stabilisation.
“Recent sales are indicating no change in values from six months ago and only minor increases from 12 months ago,” he said.
He also said the main driver of Gladstone’s market continued to be its affordability.
“Our price points are now significantly below our neighbours to the north (Rockhampton) and south (Bundaberg),” he said.
“The fundamentals of our market remain strong and so despite the stabilisation that has occurred, we still predict capital growth for the region in the future.”
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