Southern Downs richest streets predicted to be richer by 2028

Southern Downs and Granite Belt residents could see a major jump in the value of their homes within the next five years, according to a nationwide report. Full details here.

House prices on the Southern Downs are predicted to be worth twice their current value within the next five years according to a recent PropTrack report.

The report identifies that the current median house price in Warwick is $375,000 and in Stanthorpe $403,000, and further predicts a massive jump in value should housing market trends from the past five years follow through into the next five years to 2028.

Stanthorpe is set to see the most significant increase in home value, according to the PropTrack data which has predicted a 52 per cent increase seeing the value margin to reach more than $600,000 by 2028.

Warwick residents will still see some significant increases according to the data, predicting a 44 per cent jump in value to reach more than $500,000 by 2028.

LJ Hooker Warwick sales executive Leanne Cameron said Warwick’s housing market has performed exceptionally well in the past few years since the Covid-19 pandemic.

“We’ve seen the prices of properties sold double since about April 2021, and there’s a lot of competition at market,” she said.

“It is quite hard to find a property in Warwick for under $300,000 at the moment.

“We can only really look at what’s happened and the performance of the region in the past few years, and it all comes down to supply and demand.”

LJ Hooker Warwick sales executive Leanne Cameron.

RateMyAgent data shows the average sale price of the past 33 properties Ms Cameron has sold in Warwick to be at just over $463,000.

Ms Cameron said Warwick’s convenient geographical position to major cities and hospitals was just one of the reasons property owners were relocating to the Rose City.

“We often see a lot of people who have bought in Tenterfield and Stanthorpe move to Warwick because it’s an easier day trip to Brisbane, Toowoomba and the Gold Coast,” she said.

Although it might be a little bit further away from the big cities, Stanthorpe Real Estate principal Logan Steele said the Granite Belt’s property market was still very much in demand.

“Buyers are still coming from Brisbane and surrounds for the usual reasons, which is to escape to a quieter community and away from all the crime,” he said.

“Prices are increasing upwards, pre-Covid you could buy for around $250,000 and at the moment the market is sitting at between $350,000 to $450,000, but it’s pretty hard to find a property for under $400,000.”

Stanthorpe Real Estate principal Logan Steele.

Mr Steele said he wasn’t surprised by the PropTrack prediction for Stanthorpe based on how the market has been performing in recent years.

RateMyAgent data shows the average sale price based on the past 58 properties sold by Mr Steele sits at $397,000.

See the list of the Southern Downs and Granite Belt’s top five ‘richest streets’ according to RP Data below.

WARWICK

1. ALICE ST, WARWICK – worth $1.5m

After more than two years on the market, 8 Alice Street unit block sold for $1.5m in January this year.

2. EAST ST, WARWICK – worth $1m

222 East St in Warwick sold for an impressive $1m in October 2022.

3. FRANK AVE, WARWICK – worth $1.2m

7 Frank Avenue in Warwick sold for an impressive $1.2m in July this year.

4. LYONS CRES, WARWICK – worth $900k

41 Lyons Crescent in Warwick sold for an impressive $900k in December 2022.

5. RODEO DR, WARWICK – worth $875k

5 Rodeo Drive in Warwick recently sold for over $800k in July 2022.

STANTHORPE

1. PITTS ST, STANTHORPE – worth $1.5m

After two long years on the market, 12 Pitts St in Stanthorpe recently sold for $1.5m. Photo: CoreLogic

2. CORUNDUM ST, STANTHORPE – worth $1.4m

19 Corundum St in Stanthorpe sold for an impressive $1.4m in 2021. Photo: CoreLogic

3. RYAN ST, STANTHORPE – worth $960k

18-22 Ryan St in Stanthorpe recently sold under its asking price in May this year for $960k. Photo: CoreLogic

4. HARRIS ST, STANTHORPE – worth $946k

Close to the CBD, 5 Harris Street in Stanthorpe boasts 6 units and a reception building and sold for over $900k in 2016.

5. BRUNCKHORST AVE, STANTHORPE – worth $910k

39 Brunckhorst Avenue in Stanthorpe recently sold for over $900k in April this year.