Southern Downs real estate: Demand yet no supply as Southern Downs renters struggle to secure a home

While a recent report has listed the Southern Downs as one of the state’s most affordable regions to buy a house, a Warwick property agent fears further pressure on the market as major infrastructure projects commence.

The Southern Downs region has been named among Cairns and the Whitsundays as one of Queensland’s most affordable regions to buy a house, but there’s a catch.

A PRD report has revealed homes for sale the region are about 30 per cent cheaper than Brisbane, with the median house price in 2024 coming in at $502,500.

According to the report, house and land prices in the region have seen significant growth in the past decade, with land prices having rose by 95.2 per cent between 2014 and 2024.

Despite increased interest rates, the report also showed median house prices have grown by 87.9 per cent in the same period.

6 Shipley St in Warwick sold in March for $650,000. Photo: Raine & Horne

With the Warwick region already experiencing an under supply, particularly in rentals, upcoming infrastructure project Toowoomba to Warwick pipeline is likely to only exacerbate the issue.

Elders Warwick principal Andrew Williams said while 250 properties have been sold across the region in the past 12 months, rental applications are piling out the door.

“There’s been no ease in demand for rentals, I put a unit on the market on Friday and there’s already been over 100 applications,” he said.

“It doesn’t matter who you are, everyone is fighting for limited stock.”

Land is also a hot commodity, with a shortage of land available in Warwick.

Elders Warwick principal Andrew Williams. Photo: Elders Warwick

Mr Williams said he would like to see local government and investors come together to form a plan on how to release vacant blocks of land to help ease this crisis.

In the Stanthorpe area there’s been a noticeable drop off in buyer inquiries across the past three months.

Crisp Real Estate principal Norman Crisp said prior to the lead up to the federal election, buyer inquiries had been consistent for about 10 months.

“The majority of buyers we’re seeing are retirees who are wanting to escape the city, with first home buyers few and far between,” he said.

Mr Crisp said the market would likely to remain the same with the potential for a drop in interest rates later in the year a factour that could move the needle.

85 College Rd in Stanthorpe sold in February for $770,000. Photo: RP Data

Originally published as Southern Downs real estate: Demand yet no supply as Southern Downs renters struggle to secure a home