Home prices: Most expensive, cheapest Wide Bay Burnett suburbs

Home prices in some Wide Bay and Burnett cities, towns and suburbs have jumped more than 20 per cent in the past three months, with one suburb recording one of the highest recent increases in Queensland. Find your suburb:

House prices in some Wide Bay and Burnett suburbs have experienced more recent rises, with one area recording the largest jump in Queensland over the past three months.

House prices in some Wide Bay and Burnett suburbs have experienced more recent rises, with one area recording the largest jump in Queensland over the past three months.

New PropTrak data reveals house and unit prices grew in 582 suburbs across Queensland in the March 2023 quarter, with Proston in the South Burnett marking one of the highest hikes in the state overall.

This comes after CoreLogic data from October 2022 showed a slowdown in the Wide Bay Burnett property market as prices continued to grow in regional Queensland.

The median price for a house in Proston in the South Burnett rose by 22.2 per cent in the last quarter and 32.2 per cent in the past year, but still remained the third cheapest suburb across the region.

The median house price in Proston was $201,403 as of March 2023, topped only by Monto and Eidsvold in the North Burnett where average prices of $193,944 and $162,433 were recorded.

A home for sale priced $330,000 at 20-26 Drake Street, Proston, Qld 4613.

Proston and Alpha in the Barcaldine region had the highest rises in the state over the past three months.

Proston’s gain in the past 12 months nearly bested all Queensland suburbs, with only Tara in the Western Downs’ region recording a larger increase at 32.8 per cent.

Other house prices for suburbs in the Wide Bay Burnett did not rise by more than seven per cent in the past three months but several noticeable changes were recorded in the past year.

Wattle Camp in the South Burnett reported the second highest jump in house prices for the Wide Bay Burnett, and sixth in Queensland, at 21.3 per cent.

Burnett Heads and Gin Gin in the Bundaberg region fell just short of a 20 per cent rise, reaching 19.5 and 18.8 per cent respectively.

In contrast, 21 Bundaberg region suburbs and townships had a drop in house prices during the quarter with the largest a 6.1 per cent decrease at Mount Perry, bringing the median price there to $251,852.

The most expensive suburb in the Wide Bay and Burnett was Dundowran Beach, near Hervey Bay, with a medium price of $925,732.

This was followed by Wondunna at $804,769 and Craignish at $765,352, figures which helped make the Fraser Coast the most expensive region in the Wide Bay Burnett.

A four-bedroom house at 7 Nautilus Court, Dundowran Beach is on the market from $1.85 million.

Median prices for units in Bargara dropped by 9.1 per cent in the quarter, but it still recorded a 13.1 per cent increase for the year.

This brought the median price to $550,103, making it the most expensive area in Wide Bay Burnett for units.

The next most expensive unit prices was recorded at Gympie at $547, 625, with Scarness and Urraween close behind at $526,423 and $524,619 respectively.

Bundaberg and South Burnett had the cheapest average unit prices with Kingaroy’s at $282,421, followed by Bundaberg North at $338,997 and then Avoca at $357,926.

A three-bedroom unit at 1/7 Remy Court, Avoca is on offer from $499, 000.

A lack of supply of homes for sale and rent, combined with migration, have been flagged by industry experts as the main factors keeping the Queensland property market up.

It could change later in 2023, when the lag effect of interest rate rises starts to bite.

PropTrack economist Angus Moore said the relatively even split between the number of Queensland suburbs where home prices had risen and fallen during the March quarter was consistent with the overall flat price growth across the state.

“Over the past year, regional Queensland prices have also basically been flat, driven by relative affordability, which makes it attractive to some buyers,” Mr Moore said.