State's most affordable location
MOUNT MORGAN'S status as Queensland's cheapest place to buy property is confirmed by the latest figures from the real estate industry.
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MOUNT MORGAN'S status as Queensland's cheapest place to buy property is confirmed by the latest figures from the real estate industry.
With a median house price of $125,000 - exactly the same as 12 months ago - the town is comfortably the most affordable location in the state.
A study of price movements and buying trends across Queensland suggests affordability has drastically improved with record numbers of first home buyers entering the market and many existing homeowners taking advantage of low rates to pay off bigger chunks of their loans.
The standard variable interest rate is now 5.75%.
Elsewhere in the state the most affordable place to buy outside Mount Morgan is Oakey near Toowoomba, where the median is $193,250.
Mount Morgan's fortunes might be about to change with a developer unveiling plans to build up to 500 high-efficiency pre-fabricated homes that will sell for about $300,000.
The town is being advertised as a commuter-base for new workers in Gladstone.
Originally published as State's most affordable location
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