Where house values have gone up and down in regional QLD
More than 300regional Queensland suburbs defied the property slowdown during the last quarter. Find out which surprise suburbs recorded double-digit growth. INTERACTIVE.
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More than 300regional Queensland suburbs defied the property slowdown during the September quarter, with house values rising over the past three months.
And of those, 10 recorded price growth north of 10 per cent.
Leading the charge were houses in Ravenswood, a goldmining town with a population of just 297 during the 2021 ABS Census.
Located near Charters Towers, the median house price in Ravenswood rose 15.83 per cent during the September quarter, up from $201,082 to $232,914, according to the latest PropTrack Quarterly Home Price Index.
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Explore Property Townsville agent and auctioneer Mal Charlwood, who sold a four-bedroom house on a 1212sq m block in Ravenswood for $199,000, said affordable acreage property was popular.
“The goldmine out there is also expanding so people are buying investments and the goldmine has bought some property also,” he said.
“There are also some grey nomads who are buying cheap property as a base for travelling.
“I would have two or three people looking to buy in Ravenswood now, but I have over 100 people looking for acreage from Townsville, west.”
Other top performing house suburbs included Texas, Booral, Charleville, Tieri, Cloncurry, Tara, Sapphire Central, Clermont and Nobby.
By contrast, house prices in 159 regional suburbs saw values decline over that same quarterly period.
But just six house suburbs in regional Queensland saw values fall back by more than 10 per cent, with all but one, Alpha in Outback Queensland, recording positive growth over the year.
Of those, the biggest fall was recorded in Eidsvold in the Wide Bay region, where house values fell 20.9 per cent.
But values remain in the black, with prices up 3.73 per cent over 12 months, according to the data.
Three of the suburbs with the biggest quarterly falls were in Wide Bay, and also included Wattle Camp and Mount Perry, however both saw yearly growth of 17.97 per cent and 23.28 per cent respectively.
But the Wide Bay region as a whole continues to be among Queensland’s top performing areas, with five of the top 20 best performing suburbs located there – Pialba, Gympie, Torquay and Bundaberg West for units, and Booral for houses.
Other suburbs with double digit price falls included St George (-11.68%) and Richmond (-6.34%).
But they too saw prices grow over the year, with 7 per cent and 1.23 per cent respectively.
In the Cairns region, 32 house suburbs recorded price growth, led by Yarrabah (+5.08%), Mossman (4.7%), South Mission Beach (+4.13%), Cardwell (+4%) and Port Douglas (+4%).
For units, the top performers were Bungalow, Mooroobool and Trinity Beach.
Eighteen house suburbs saw prices values decline, with Ravenshoe clocking the biggest drop at 3.72 per cent.
Raine & Horne Port Douglas and Mossman principal David Cotton said the market was still “flat out” in the north.
“Everybody is buying, from locals to lots of interstate buyers from places like Victoria, NSW, South Australia, Tasmania.
“They are buying holiday lets, but there is also lots of owner occupiers who are working from here but have that better lifestyle.
“We are running out of stock across all price points.”
In the Townsville region, 35 house suburbs recorded price growth led by Ravenswood, Ayr, Forrest Beach, Ingham and Richmond Hill.
For units, Ayr came out on top, followed by Kirwan and West End.
In the garrison city itself, North Ward was the star performer with house values rising 4.02 per cent, followed by Black River (+3.45%), Mount Low (+3.36%), Alligator Creek (+3.12%) and Nelly Bay (+2.9%).
Just 12 house suburbs recorded declines, led by Pimlico with 4.11 per cent but that’s on the back of 10.55 per cent growth over the year.
Of all of the suburbs to record declines, all had strong yearly growth north of 7.27 per cent.
Surprisingly, North Ward was also one of the top 20 worst performing unit suburbs, with values dropping 14.67 per cent over the quarter.
A total of 301 house suburbs had price growth of at least 0.01 per cent, while 101 unit suburbs recorded a rise in values.
The Sunshine Coast – arguably Queensland’s hottest market during the boom – has taken a hit, but that comes off the back of extraordinary growth of between 15.37 per cent (Pacific Paradise) and 38.6 per cent (Doonan) over 12 months.
The data shows that house values in Sunshine Beach, Queensland’s richest residential enclave, fell 4.58 per cent during the September quarter, a mere drop in the ocean given its eye-watering growth of 34.11 per cent in 12 months.
The median house value there is now $3,177,978, down from $3,330,642 in the June quarter.
PropTrack economist Eleanor Creagh said home price growth was slowing but remained stronger in Queensland than other states.
“Parts of Queensland are still very much the top performers, and while we are seeing a slowing pace of price growth, those areas are exhibiting a lesser pace of price falls relative to other parts of Australia,” she said.
“Although regions within Queensland are still the top performers when it comes to the pace of price growth, when it comes to which regions are exhibiting the strongest price growth it’s no longer the Gold and Sunshine Coasts.
“Growth has shifted to the more affordable regions of the state.”
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