Revealed: Every Queensland suburb’s median house price

Queensland house prices have soared by up to 45 per cent in some suburbs and Brisbane has hit a new record high. SEARCH YOUR SUBURB

Homeowners in key lifestyle suburbs across the state have been pocketing $10,000 a week for the past year on the back of phenomenal property price growth of up to 45 per cent.

Home values increased in a whopping 95 per cent of Queensland’s 712 suburbs over the past three months, as Brisbane hit a new record median house price of $709,136, according to the latest data from property researcher, CoreLogic, shared exclusively with the Courier-Mail.

House prices in Moffat Beach have grown a whopping 40 per cent in the past year.

The data shows every suburb’s median home price as of September 30 and reveals Queensland now has 122 suburbs with a median house or unit price of $1 million or more. The inner Brisbane suburb of Teneriffe takes out the title of the most expensive in the state, with a staggering median house price of $2.3 million.

This five-bedroom beach house at 7 Wilson Ave, Dicky Beach, is going to auction.

The median house price in Dicky Beach is now $1.07 million.

A typical house in the state’s regions is now worth $472,585, which also marks an all-time high.

The Caloundra beachside suburbs of Moffat Beach and Dicky Beach were the strongest performers in the September quarter, with their median house prices jumping more than 11 per cent to $1.2 million and $1.07 million, respectively.

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This property at 66 Nothling St, Moffat Beach, recently sold for $1.3m.

Moffat Beach has also seen incredible house price growth over the past 12 months of more than 40 per cent, or $348,000, as buyers continue to move out of the city and into more lifestyle-centric areas.

The tiny acreage town of Curra in the Gympie shire, north of Brisbane, was a surprise growth star, with house prices gaining 11.6 per cent in the past three months, yet the median house price is still a very affordable $456,846.

This rundown, oceanfront property at 5 Crees Pde, Dicky Beach, sold in September for $2.4m.

In the capital city, Indooroopilly was Brisbane’s top growth suburb with its median house price surging 11.1 per cent — $140,000 — to $1.4 million in the September quarter, followed by the neighbouring suburb of Chelmer and Geebung on the northside.

This three-bedroom house at 129 Harte St, Chelmer, is going to auction.

The strongest gains for the past year in house prices were recorded in Noosaville, where the median house price has jumped from $1.21 million to $1.76 million — a whopping $549,000 increase.

This was followed by Miami on the Gold Coast, where house prices have soared 43 per cent or $400,000 in the past year to hit a median of $1.3 million.

This four-bedroom property at 4 David Court, Miami, is scheduled for auction.

Brisbane’s median unit price also hit a new record high of $430,000.

More than 70 suburbs across the state recorded double digit unit price growth, but the strongest performers were all in coastal areas.

This apartment at 59/129 Oleander St, Holloways Beach sold for $253,000 in July.

Holloways Beach, north of Cairns, recorded a staggering increase in its typical unit price of 12.8 per cent in the September quarter, followed by the Gold Coast favourites of Burleigh Heads and Burleigh Waters.

This three-bedroom unit at 60/72 The Esplanade, Burleigh Heads, is on the market.

Over the past 12 months, Sunrise Beach was the top performer — making its unit owners $287,000 richer without lifting a finger.

This apartment at 19B/3 Second Ave, Burleigh Heads sold for $1.08m in September.

CoreLogic head of research Eliza Owen said the strong gains in coastal suburbs in the state’s southeast were likely driven by the migration to lifestyle areas prompted by the pandemic.

“Queensland’s southeast still has strong growth tailwinds related to migration, due to the appeal of lifestyle and price point from interstate migrants, particularly in greater Sydney, where house values are sitting at around $1.3 million,” Ms Owen said.

CoreLogic head of research Eliza Owen.

Harcourts Caloundra owner Luke Carter, who has been in Moffat Beach for two decades, said properties in the coastal haven were “very tightly held” but when they became available, they were snapped up fast.

“I’ve sold three properties in the last three weeks and as soon as they were listed, they were gone,” Mr Carter said.

Caloundra suburbs have seen strong house price rises in the past year. This five-bedroom beach house at 7 Wilson Ave, Dicky Beach, is going to auction.

“One I just sold sight unseen to a Brisbane buyer after getting over 150 inquiries since Friday. One gentleman stumped up an offer prior to viewing.”

But more affordable regions such as the Gympie shire have also seen incredible price gains.

This property at 1723 Harvey Siding Rd, Curra, is on the market for offers over $800,000.

Along with Curra, Tin Can Bay’s median house price increased 10 per cent in the past three months and 36 per cent over the past year to sit at $489,198.

And unit prices in Gympie city and Rainbow Beach jumped more than 30 per cent in the past 12 months.

This house at 91 Hidden Place, Curra, sold for $572,000 in September.

Property analyst Terry Ryder from hotspotting.com.au said more buyers were leaving city life behind for a lower mortgage and better lifestyle in regional areas.

“The fringe areas of major cities, regional cities, hill change towns and sea change enclaves

are all beneficiaries of this compelling trend which has been driven by technology, improved

transport links and the lure of working remotely and escaping the big, expensive, congested

cities,” Mr Ryder said.

Lifestyle locations, such as Wonga Beach north of Cairns, are experiencing strong house price growth.

“Gympie is one of those places real estate consumers seldom consider because it’s stigmatised with a bad reputation — one that it does not deserve.

“We’ve promoted Gympie as a great buying opportunity because of its local growth drivers, its attractive affordability and its strong links by the dynamic Sunshine Coast economy (and more expensive real estate market) just down the highway.”

This property at 8 Greenhood St, Indooroopilly, sold for $1.626m in August.

Ray White chief economist Nerida Conisbee said it was not surprising that Brisbane, in particular, had seen a big jump in its median house price given its population growth and Olympic city status, combined with low interest rates and high savings rates.

“Prices are, on average, up $100,000, however, the inner suburbs are leading the charge at almost $300,000,” Ms Conisbee said.

Ray White chief economist Nerida Conisbee.

“Like the rest of Australia, Brisbane’s house prices could slow if lending restrictions are put in place. But for now, house price growth is assured, and could accelerate if Brisbane can maintain its position as where people want to be.”

In the March quarter alone, Brisbane saw net migration of 3274 people from the capital city and regional areas.

This property at 19 Mayflower St, Geebung, sold for $852,960 in July.

“Once lockdowns end in Sydney and Melbourne and it’s easier to move, it’s highly likely that this will increase again,” Ms Conisbee said.

National buyer’s agency network BuyersBuyers founder Pete Wargent said lending restrictions, such as the recent APRA measures, could have some impact at the top end of southeast Queensland’s housing market, but it would be minimal compared to Sydney and Melbourne.

An apartment in this complex at 5305/12 Executive Dr, Burleigh Waters sold for $440,000 in July.

“Southeast Queensland is playing catch up to some extent, and is also benefiting from the

transition to remote working, the strongest interstate migration in 15 years, and the general shift towards coastal locations as a part of the ‘race for space’ seen through the pandemic,” Mr Wargent said.

“Overall, we think Queensland’s property market cycle has plenty of legs left in it yet.”

Originally published as Revealed: Every Queensland suburb’s median house price