Where house values have soared across regional Queensland

House prices soared in 710 suburbs across Queensland over the last three months, with over half of the top performers located in the regions. How does your region rate? SEARCH YOUR SUBURB IN OUR INTERACTIVE

Once owned by tennis ace Pat Rafter, this Sunshine Beach house was sold by Betty’s Burgers founder David Hales to Therese Rein, wife of former PM Kevin Rudd, for $17 million in May last year.

House prices soared in 710 suburbs across Queensland over the last three months, with over half of the top performers located in the regions.

New data from CoreLogic found that house prices in regional Queensland rose in 390 suburbs, compared to price rises across 320 suburbs in the Greater Brisbane area.

Of the 406 regional suburbs analysed by property data firm Core Logic, only 13 recorded price declines over the March quarter, with three other suburbs recording zero growth.

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CoreLogic head of research Eliza Owen said interstate migration and the normalisation of remote working combined with a desire to escape high density living was helping to drive the gains in regional markets like North Queensland.

Ms Owen said the recovery and greater investment in resource markets had also boosted home values in parts of regional Queensland, although some were still well below previous highs.

In the Cairns region, which has been slower to see price growth compared to other regions, 39 of its 45 suburbs recorded house price growth of between 0.3 per cent (Craiglie) and 10.3 per cent (Innisfail).

This house in Innisfail Estate is listed for $450,000. The suburb has a median house sales price of $267,500, but few listings.

The Townsville region saw 37 of its 42 suburbs record house price growth of between 0.9 per cent (Bohle Plains) and 6.5 per cent (Balgal Beach).

The number of $1 million-plus house sales in the garrison town almost doubled in the 16 months to the end of April, according to data from realestate.com.au

Included in those sales was a Castle Hill mansion which changed hands for $6 million – double the city’s previous house sales record.

This Castle Hill mansion was picked up for $6 million by 1300Smiles managing director, Daryl Holmes. Picture: Evan Morgan

And former North Queensland Cowboys Coach Paul Green’s Castle Hill home sold for $1.85m at auction in February.

Meanwhile, every suburb counted in the Mackay-Isaac-Whitsunday region recorded growth of between 1.4 per cent (Mackay) and 9.1 per cent (East Mackay).

East Mackay is seeing strong house price growth, with this modern home changing hands for $650,000 in February

The Central Queensland region was also a star performer, with Rockhampton recording the biggest growth spurt in the state, with house values soaring 13.1 per cent to a median of $165,804.

Only one suburb in Central Queensland saw prices fall over the quarter, with house prices in Emerald falling two per cent.

In the Wide Bay region, only one suburb saw house values decline over the quarter, with values falling by a tiny 0.6 per cent in the rural town of Aldershot on the Fraser Coast.

Elsewhere, house values rose between 1.2 per cent (Kingaroy) and 8.7 per cent (Elliott Heads).

Every suburb in the Gold Coast and Sunshine Coast regions saw house values surge higher.

Twelve suburbs on the Gold Coast saw price growth in excess of 10 per cent, led by the millionaire’s enclave of Mermaid Beach, where the median house price is $1,560,886.

It might not look like much but this house on a 405 sqm block on Hedges Avenue is listed for $2.85 million

Home to Hedges Avenue, which is also known as Millionaire’s Row, the beachside suburb’s residents include mining magnate Clive Palmer, billionaire property developer Bob Ell, Harvey Norman Queensland boss Stephen Cavalier, hotelier Bruce Mathieson, and Nava and Sahba Abedian, of Sunland Group fame, to name but a few.

Bob Ell bought this stunning waterfront mansion on Hedges Avenue for $22.6 million in August last year

On the Sunshine Coast, six suburbs saw double-digit growth, led by Marcoola with 12.1 per cent.

Double digit growth was also recorded in Kin Kin (11.5%), Cootharaba (11%), Golden Beach (10.4%) and Tinbeerwah (10.1%).

Noosaville saw house values rise 11.4 per cent to $1,371,158, but the sought-after suburb regularly sees sales north of $2 million.

Sunshine Beach has now overtaken Mermaid Beach (Gold Coast) and Teneriffe (Brisbane) as Queensland’s most expensive suburb, with the median house price rising 5.5 per cent over the quarter to a new high of $1,957,409.

Noosa Heads has also knocked Mermaid Beach down to third spot, with the beach town’s median house value rising 6.4 per cent to $1,569,520.

Looking ahead, Ms Owen said she expected demand to remain strong for regional areas of Queensland because of interstate migration and low interest rates.

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The Sunshine Beach house bought by businesswoman Therese Rein, the wife of former PM Kevin Rudd, for $17 million in May last year

Originally published as Where house values have soared across regional Queensland