Gympie, Southside unit prices jump more than 13% in three months

The region’s property market continues to soar in new ways, with units near the centre of Gympie recording among the biggest price jumps in Queensland over the past three months.

The price of units on the Southside and in Gympie has soared more than 13 per cent in the past three months.

Units in the heart of Gympie have become the latest hottest commodity on the property market, with Southside and Gympie values soaring to claim two of the three highest increases in Queensland over the past three months.

New figures from online property hub CoreLogic reveal the value of units on the Southside jumped 16.5 per cent between March and June, with buyers now paying an average of $282,744.

This was the second highest increase in unit prices in the state over that period, behind Fraser Island’s 21.4 per cent surge.

Gympie units were not far behind.

In the city the median unit price increased 13.5 per cent to sit at $291,520, the third highest increase in the state.

Unit prices at Tin Can Bay and Rainbow Beach each jumped more than 9 per cent.

The price jump was higher than the increase in most housing prices across Queenslandl.

Unit prices on the Southside rose 16.5 per cent.

The Southside price rise kept its spot as second highest increase in the combined market, while Gympie slid back to fourth thanks to a 14.7 per cent increase in Caloundra house prices.

But even with these increases affordability still remained the region’s catchcry.

Of the 10 hottest unit markets in the June quarter. only prices at Pimlico ($193,280) and Fraser Island ($250,364) were cheaper.

Gympie Century 21 principal agent Billy Mitchell said he was unsurprised by the news, which was yet another sign of a “phenomenal” regional market.

Century 21’s Billy Mitchell says the increases are not a surprise as the market was “phenomenal” at the moment.

His agency had sold a number of units in the past few weeks, including the four unit Calton Cottages complex near the city centre for $980,000,

Mr Mitchell said the region’s affordability was making it an attractive option for people priced out of the Sunshine Coast.

“You can’t get any of the places south of us for anywhere near the price (here),” Mr Mitchell said.

Retirees and people looking for low maintenance options were playing a big role in driving the region’s unit market up, he said.

Laguna Real Estate office manager Emily Lang said investors and a bottleneck in new land being opened up were having an effect.

“”There’s not a lot of units in Gympie at the moment,” Ms Land said, adding that the tight rental market meant good returns were to be had on those investments in Gympie.

Originally published as Gympie, Southside unit prices jump more than 13% in three months