Western Downs real estate: 2021 Median house prices in Dalby, Chinchilla, Jandowae lower than 2011

Affordable three-bedroom houses can be snapped up for less than the median price a decade ago, but homebuyers better get in quick before the next energy boom sweeps the region.

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Homebuyers can party like it's 2011 in Dalby, with new data showing the Western Downs community can offer homes at prices more affordable than they were ten years ago.

CoreLogic has revealed the median price for Dalby homes has dropped by more than $14,000 compared to ten years ago, bucking the Covid property boom in southeast Queensland.

This trend has failed to make its way west as Dalby homebuyers can pay an average of $240,591 in 2021, compared to $254,520 in 2011.

The median house price in Jandowae nearly halved from $254,520 in 2011 to $139,306 in 2021, while Chinchilla’s also dropped from $254,520 to $237,509.

Fitzsimmons Real Estate’s Andrew Fitzsimmons said the price drop could be attributed to the decline of the gas boom that swept the Western Downs.

“It was from about 2001 onwards where we had two big gas-fired power stations built, along with major gas infrastructure developments where they were building big power connection lines,” Mr Fitzsimmons said.

“These things added people to the town, and brought in a lot of rental demand.

“It was all go, go, go.”

Mr Fitzsimmons said there were a lot of studies conducted at the time which projected a major boom for the region, however he said it came to a “roaring stop” in 2012.

Andrew Fitzsimmons believes there is no comparable town to Dalby in Australia. Picture: File

“After 2011 we had the floods and we had a bit of money spent around roadworks which kept more people around in houses, but it went fairly quiet after that,” he said.

“At the moment there’s a lot of inquiries from those coming from the southern states and cities.

“They’re the ones going for a tree change.”

The cost of building a home in this day and age is quite high according to Mr Fitzsimmons, and said this made existing homes “more valuable”.

“Since Covid, prices are climbing quickly, however affordability in Dalby is very strong - you can come here and buy a home for $240,000 and be happy as Larry,” he said.

“You don’t have to pay $500,000 to live comfortably. What you can get usually is three bedrooms, a deck, couple of air conditioners, a fenced yard, just a solid home.

Spacious three-bedroom homes are available for affordable prices according to the recent CoreLogic data. Picture: Fitzsimmons Real Estate

“Then if you’re able to, you can rent out the place and easily get about $280 a week, just because there’s reasonable demand for homes.”

Mr Fitzsimmons said this may not last long, citing several gas and renewables projects that were currently in the pipeline in the next few years which may drive house prices upward.

In an article with the Chinchilla News, Western Downs Mayor Paul McVeigh said several approved energy projects would create permanent jobs across the region, which would lead to another influx of workers.

“Every 100 head of cattle creates 1.6 jobs .... just the wind farm at Dulacca will create (150 jobs and) up to 20 long-term jobs,” he said.

Some of these projects include several new and expanding feedlots, 14 renewables projects across the Western Downs, as well as the potential for a new thermal cut coal mine in Wandoan.

Originally published as Western Downs real estate: 2021 Median house prices in Dalby, Chinchilla, Jandowae lower than 2011