The Qld suburbs leading the nation for house price growth

first_imgBOOM SUBURBS — CAIRNS. SOURCE: realestate.com.au By comparison, the top performer in New South Wales was Dudley in the Newcastle-Maitland district (up 25 per cent) and Palm Beach ($3.4 million) in Sydney, up 24 per cent to $3.4 million. Only seven of the 10 Sydney suburbs recorded double digit growth, according to the data.The top performer in Victoria was also in a regional centre, with Lovely Banks in Geelong up 26 per cent. The top performing Melbourne suburb was Warburton, up 20 per cent to $527,500.The findings come after another report — the REIQ Quarterly Market Monitor — revealed that the annual median house price within the Brisbane City Council region had hit another new high, reaching $680,000. RELATED: Brisbane house price hits new record high: What‘s your home now worth? Take a look inside Brisbane’s $18 million trophy home REA Group / realestate.com.au chief economist Nerida ConisbeeBut she said the “really good news” was that Brisbane, and the southeast generally, had largely weathered the downturn that has gripped southern states.In Townsville, which was devastated by widespread flooding earlier this year, one suburb saw median house prices jump 32 per cent in the same period. Gulliver has seen its median house price jump 32 per cent to $295,000. Mr Curtain said there was great value to be found in some of Brisbane’s “inner city acreage” suburbs. Townsville’s Marina Residences development hits the market BOOM SUBURBS — BRISBANE. SOURCE: realestate.com.auMedian house prices in the suburb, which is arguably the closest acreage suburb to the city, have reached $1.1 million, according to realestate.com.au.In Gumdale, Place Woolloongabba agents James Curtain and Chris Dixon are marketing a contemporary, architecturally-designed residence on approximately 1ha. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhy location is everything in real estate01:59A LEAFY Brisbane suburb has recorded the strongest median house price growth in the country, with several regional city suburbs also outperforming prestige interstate hot spots.Gumdale, about 14km east of the Brisbane CBD, recorded a staggering 37 per cent increase in median house prices in the 12 months to the end of May. MORE NEWS: Insane Brisbane houses on the market right now Brisbane’s hungry for luxury, says richlist developer In the Gold Coast/Tweed region, growth ranged from four per cent at Broadbeach Waters to 15 per cent at Jacobs Well. BOOM SUBURBS — GOLD COAST/TWEED SOURCE: realestate.com.au There are plenty of nice houses in Gulliver, but you may just get this ramshackle house for a bargain at auctionOther top performers in the sunshine state were Buccan (Brisbane) which was up 26 per cent to $765,000, East Ipswich (up 23 per cent to $329,000), Carvonica in Cairns (up 25 per cent to $499,000) and East Toowoomba (up 22 per cent to $525,000). That revelation marked 27 straight quarters of growth for Brisbane at a time when interstate capital cities have seen house prices plummet.Ms Conisbee said she expected to see even stronger growth for the city going forward.“It is steady as she goes,” she said. “But I think your growth will be stronger again (with the next data run) given that we have a market that feels stronger after the Coalition win and the interest rate cut.“There is always that risk of rising unemployment … one interest rate cut is good but multiple cuts because of job cuts just takes away from any gains in the property market anyway.“But it is a good sign that people are buying within a wide range of price brackets and shows a healthy market with offerings for all budgets.” More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoBOOM SUBURBS — TOWNSVILLE. SOURCE: realestate.com.auMs Conisbee said Gulliver was an affordable suburb, and like many regional centres close to mining hubs experiencing a boost in employment and confidence, rents have increased and house values naturally followed. RELATED: The Townsville ‘no hoper’ house with wannabe gangster graffiti BOOM SUBURBS — SUNSHINE COAST. SOURCE: realestate.com.au This acreage property at 88 Archer Street at Gumdale is listed for sale“It is 15 to 20 minutes from the CBD and it has sought-after schools,” he said. “There are also business people targeting Gumdale because they want to be able to live and run a business from the same locality. And there is a mix of entry level homes right up to very luxurious new builds so there is a good mix.”REA chief economist Nerida Conisbee said acreage suburbs close to Brisbane were consistently popular with prospective buyers in Brisbane. Of the 10 suburbs surveyed in Brisbane, every one recorded double digit growth of between 13 per cent (Kenmore and Gordon Park) and 37 per cent in Gumdale.The Sunshine Coast also recorded double digit growth across its top 10 suburbs, with Mons and Ninderry recording 24 per cent and 22 per cent respectively. Townsville houses were flooded earlier this year in what was described as a 1 in 500 year event. (AAP Image/Dave Acree) How this local tradie saved his way to four sound investments by 22last_img

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