The Qld suburbs basking in 40pc price growth (or more) revealed

From a suburb once considered a burglary hotspot to gentrifying industrial hubs and outback towns - check out the Queensland suburbs where property values have shot up.

From emerging suburbs to established family havens and gentrifying industrial hubs – these are the Queensland suburbs where property values have shot up by 40 per cent or more in just 12 months.

Leading the pack is Ellen Grove in the Ipswich region, which recorded the biggest jump in values in the 12 months to August – a staggering 118.7 per cent.

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The suburb, which was once considered among Queensland’s worst suburbs for burglaries by RACQ, now has a median house price of $619,000 – up from $283,000 a year ago – off the back of 16 sales, according to the latest REA Market Trends report.

Acreage properties in the suburb, which is 20km southwest of the Brisbane CBD, now regularly go for upwards of $1 million and new homes are springing up, but houses are still selling for between $250,000 and $350,000.

Ellen Grove was followed by skyrocketing house price increases in a number of regions, including Charters Towers (Townsville), Avondale (Wide Bay), Hughenden and Sunset (Outback) and Tiaro (Wide Bay), with house values rising between 52.3 per cent and 88.9 per cent.

This four bedroom house on a 1239sq m block at Charters Towers is listed for $180,000 negotiable

The top performing unit markets were located in Jubilee Pocket (Mackay-Isaac-Whitsunday), South Gladstone (Central Queensland), Coolum Beach (Sunshine Coast), Rainbow Beach (Wide Bay), Garbutt (Townsville) and West Gladstone (Central Queensland).

Each of those suburbs saw unit values rise by 40 per cent or more in the 12 months to August, with unit prices in Jubilee Pocket rising 67 per cent to $210,000, according to the report.

This two-bedroom unit at Coolum Beach recently sold for $1.225 million

Propertyology’s Simon Pressley said the nation would likely look back at the property boom and see locations that had produced house price increases of 30 to 50 per cent, even 70 to 100 per cent, over a three-year growth cycle.

He pointed to a number of factors influencing the market including rental supply, or lack thereof in many regions, the exodus from the capital cities to the regions and record low interest rates.

In the 18 months to June, rents have increase by up to 39 per cent in Hervey Bay, 28 per cent in Gladstone, 22 per cent on the Sunshine Coast, 21 per cent on the Gold Coast, 15 per cent in Townsville, 12 per cent in Mackay and 6 per cent in Cairns, according to Propertyology research.

And while the 40 per cent-plus club is punching well above its weight, with all but three outside of the Greater Brisbane region, there are plenty more suburbs clocking median house prices increases above 30 per cent in 12 months.

The data shows another 54 suburbs across Queensland recorded median prices increases of between 30 and 40 per cent, with three of those in Cairns, Townsville (2), Mackay (2), Sunshine Coast (12) and the Gold Coast (4).

The Gold Coast and Sunshine Coast have been magnets for Covid escapees from the southern states.

Ray White’s Julie Mahoney said the Townsville market has seen some exceptional price growth in some suburbs.

She will take 95 Stagpole St at West End, a stunning early 1900s residence transformed into a modern home, to auction on Monday, and has already had “phenomenal numbers” through the property.

The sought-after suburb has seen price growth of 21.2 per cent in the last three months alone, based on 67 sales over the 12 months to August.

“I am currently seeing a significant increase in the number of inquiries out of the southern states that are in lockdown,” Ms Mahoney said.

“We didn’t really see that much (inquries) during previous lockdowns, but 100 per cent there has been a huge uptick.”

Ray White’s Julie Mahoney will take this stunning West End residence to auction on Monday

Ms Mahoney said she was now fielding “a big increase:” in inquiries out of Sydney, Canberra and Melbourne, something even she admits the city had largely missed out on previously.

“They are mostly families, and they are just sick to death of it (lockdowns),” she said.

“I can’t even imagine what it would be like homeschooling, running a business from home . it is a lot of pressure.”

Ms Mahoney said some buyers had even suggested they were seeking “community” after witnessing “behaviours that had not been to the benefit of the community” down south.

“I’d say the level of interstate inquiry I am now seeing is about 20 per cent (of all inquiries),” she said.

“Local buyers are still incredibly active but it is that interstate inquiry, which we didn’t see much of after the first few lockdowns, that has really picked up.”

Up north in Cairns, where the suburb of Malanda is rapidly closing in on that 40 per cent growth mark, median house prices have risen 39.4 per cent in 12 months to $362,500.

The region’s other top performers are Ravenshoe (33.3%) and Caravonica (32.4%).

In the Mackay region, Jubilee Pocket (units) and Airlie Beach (houses) are leading the charge with median price growth of 67 per cent and 46 per cent respectively.

Abell Point Marina, Airlie Beach, Queensland, Australia. Supplied.

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QUEENSLAND’S 40 PER CENT-PLUS CLUB (HOUSES)

Suburb/region/median house price/12 mth growth %

Ellen Grove (Ipswich) $619,000; 118.7%

Charters Towers City (Townsville) $170,000; 88.9%

Avondale (Wide Bay) $320,000; 77.8%

Hughenden (Queensland Outback) $150,000; 76.5%

Sunset (Queensland Outback) $303,500; 55.6%

Tiaro (Wide Bay) $295,500; 52.3%

Barney Point (Central Queensland) $210,000; 51.6%

Whiteside (Moreton Bay South) $1,052,500; 50.4%

Winston (Queensland Outback) $345,000; 50%

Maaroom (Wide Bay) $285,000; 50%

Queenton (Townsville) $168,000; 49.3%

Toorbul (Moreton Bay North) $520,000; 48.6%

Guanaba (Gold Coast) $1,350,000; 47.5%

Airlie Beach (Mackay-Isaac-Whitsunday) $843,75046

Bundaberg East (Wide Bay) $330,000; 46%

Longreach (Queensland Outback) $217,500; 45%

Veteran (Wide Bay) $672,500; 44.2%

Mount Ommaney (Brisbane West) $1,200,000; 42.9%

Toowoomba City (Toowoomba) $441,250; 42.3%

Sharon (Wide Bay) $480,000; 41.2%

Biggenden (Wide Bay) $197,500; 41.1%

Ninderry (Sunshine Coast) $957,500; 40.8%

(Source: REA Market Trends August 2021)

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QUEENSLAND’S 40 PER CENT-PLUS CLUB (UNITS)

Suburb/region/median unit price/12 mth growth %

Jubilee Pocket (Mackay-Isaac-Whitsunday) $210,000; 67%

South Gladstone (Central Queensland) $141,000; 48.4%

Coolum Beach (Sunshine Coast) $602,500; 45.2%

Rainbow Beach (Wide Bay) $310,000; 40.9%

Garbutt (Townsville) $165,000; 40.7%

West Gladstone (Central Queensland) $175,000; 40%

(Source: REA Market Trends August 2021)