Weary buyers: The QLD suburbs where price growth eased, dropped

They are the suburbs where house values have eased – even dropped – and weary buyers stand a fighting chance at getting a foot on the property ladder. The locations might surprise you.

They are the suburbs where house values have eased – even dropped – and weary buyers stand a fighting chance at getting a foot on the property ladder.

And they aren’t all in the sticks, with a number of suburbs in the southeast corner seeing only mild price growth, and a few lifestyle locations in the regions even recording a drop in values in the September quarter.

But values, by and large, are up across Queensland over the past 12 months, according to data giant, CoreLogic.

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Core Logic head of research Eliza Owen said 94.7 per cent of the 925 house and unit markets across 712 suburbs recorded an increase in value in the three months to September.

But that same data shows that 37 house suburbs and 17 unit markets across Queensland recorded no growth or a drop in values in the September quarter.

In those house markets, three suburbs – Palm Cove (Cairns), North Ward (Townsville) and East Mackay (Mackay-Isaac-Whtisunday) – recorded no price growth.

House value rises stalled in North Ward in Townsville in the September, with no growth, but were up 5.8 per cent over the year.

And those that recorded a fall in values ranged from 0.2 per cent (Railway Estate, Townsville) to 6.7 per cent (Biloela, Central Queensland).

Three of the top five suburbs to record a drop in house values were located in Central Queensland – Biloela, Calliope and Telina.

Six Cairns suburbs saw house values fall slightly over the September quarter, but those same suburbs have seen growth of between 5.9 per cent and 12.1 per cent over the year.

Six Cairns suburbs saw house values drop in the September quarter, including Trinity Park as seen from Yorkeys Knob, where house prices rose. Picture: Brendan Radke

In Townsville, four suburbs saw values decline by less than one per cent over the quarter, with just one suburb also recording a drop in value over the year.

The Mackay-Isaac-Whitsunday region, which has seen strong annual growth, had 11 suburbs where house values fell by less than 1.8 per cent over the quarter.

Every suburb in Toowoomba recorded price growth, but houses in North Toowoomba recorded the smallest rise, up 0.2 per cent over the quarter and 8 per cent over the year.

For those still hoping to buy into Wide Bay, house values in Granville rose just 0.9 per cent over the quarter, compared to a whopping 11.6 per cent in Curra.

Wide Bay had nine of the top 10 best performing suburbs outside of the booming southeast corner over the past 12 months, with values in those locales booming by between 28.9 and 36.1 per cent.

For buyers determined to find bricks and mortar in the southeast corner, house values in Blackstone (Ipswich) rose by just one per cent over the quarter, but were up 14.8 per cent for the year.

Seven of the top 10 suburbs with the lowest quarterly growth in the Greater Brisbane region, were located in the Ipswich region, a booming new estate area, but all have recorded strong growth in the year to September.

By comparison, house values in Indooroopilly (Brisbane-West) jumped 11.1 per cent in three months.

But there are very few listings in Blackstone, with this timber house, listed for $349,000, already under offer

On the Gold Coast, houses in Pacific Pines recorded 1.9 per cent growth over the quarter, compared to a high of 10.5 per cent at Benowa and Bundall.

While houses in Maroochydore (Sunshine Coast) recorded growth of 1.9 per cent in the September quarter, compared to 11.7 per cent at Moffat Beach.

Ms Owen said there appeared to be some easing of prices, and rapid price growth, in some areas, particularly outside of the southeast corner.

She said that while many regions had recorded strong growth over the past year, some areas “may have now reached their limit in terms of local affordability”.

“For buyers, that could be a good thing because now they can catch up,” she said.

But Ms Owen added that any buyers, particularly first time buyers, who had yet to move on the market may need to act soon, warning that the easing of border restrictions could trigger a fresh wave of migration to Queensland.

“There are still affordable options available, whether that be in the unit market or a bit further afield where there is new housing supply,” she said.

“And if buyers have the option of working remotely, the regions can offer affordability and lifestyle.”

The final two vacant lots at The Surrounds at Helensvale will be auctioned off by developer Villawood Properties today, October 17

The most recent Price Predictor Index by Hotspotting identified a record 171 growth markets across regional Queensland, with the Sunshine Coast the “undoubted star of price growth”.

“Elsewhere in regional Queensland, it’s very much a story of growth,” the report said.

“The Gold Coast, Cairns, Bundaberg, Gladstone, Mackay, Rockhampton, Toowoomba and Townsville have all increased the number of suburbs with rising sales volumes.”