Growing families desperate to upsize as listings dry up in Biloela

Median house prices in the Banana Shire have jumped eight per cent with the major centre of Biloela experiencing an extremely tight market. See our interactive price graphic.

This 4 bedroom home on Tognolini Baldwin Road, Biloela sold for $585,000 in January 2025.

Median house prices in the Banana Shire have increased eight per cent in 12 months, with the major centre of Biloela experiencing an extremely tight market as young families look to upgrade.

The Real Estate Institute of Queensland’s report for the 12 months to March 31 shows median house prices rising to $291,500 from 296 sales, with Biloela up 6.5 per cent to reach a $340,100 median price from 151 sales.

However, Biloela median house prices for the March quarter fell almost 20 per cent, albeit on a very low volume of just 26 sales.

First National Real Estate agent Amanda Munroe said the March figures did not reflect the ongoing demand for houses in the town, with listings at a premium.

“This is just simply about the lack of choice,” she said.

“People are sitting back and waiting to decide ‘should we wait and see if prices go up before we list for sale?’

“So there’s a lack of really good quality listings within a medium price range. I’m not talking high end. There’s just not a lot in that $400,000 price range. That’s a very popular range and they just go instantly.”

She said there was huge demand from young families wanting to upgrade.

“It’s really tight, really hard for buyers right now with people desperately wanting to upsize as they’ve outgrowing their homes and they just can’t get their foot into the market,” she said.

“There are a couple of low listings $245,000 and $300,000, but they are not getting the interest you might expect because the buyers are wanting something a little more refined, a little nicer.

“So anything from $350,000 to $450,000 would be hot property right now for sure and we’d have multiple offers on every listing without a doubt.

“Families wanting to sell their three bedroom one bathroom and buy something with four bedrooms, two bathrooms kind of vibe.

“If families wanting to upgrade could find the homes they were looking for there would be a big increase in listings.”

This 3 bedroom house in Cooper St, Biloela sold for $390,000 in March 2025.

She said there weren’t many new homes being built because the end cost did not provide resale value at this time with established homes still the popular choice at current prices.

She said investors and first home buyers were also lining up for homes.

The Banana Shire has a very tight rental vacancy rate of just .5 per cent which is creating accommodation price pressure and attracting investors who were competing with local buyers but also helping to retain rental homes in such a competitive buying environment.

This 3 bedroom house in Cooper St, Biloela sold for $390,000 in March 2025.

Elsewhere, Moura recorded a big price increase for the March quarter, jumping 52.7 per cent to $397,750 but again on low volume of 10 sales.

Moura’s 12-month median house price actually fell 10 per cent to $207,500, however ongoing sales since March indicate sustained demand for homes in the mining town.

Ms Munroe believes southern investors are the main reason for that surge in demand in the town which services the surrounding mining and rural sectors.

Originally published as Growing families desperate to upsize as listings dry up in Biloela