Property investors still striking gold in Queensland’s Bowen Basin, but many markets stagnate: RP Data

Property investors still striking gold in Queensland’s Bowen Basin, but many markets stagnate: RP Data
Property investors still striking gold in Queensland’s Bowen Basin, but many markets stagnate: RP Data

Queensland’s Isaac region, which includes much of the coal-rich Bowen Basin, delivered the strongest capital gains to investors over the past year.

RP Data 12-month figures for the year to May show that Isaac house prices increased by 30.7% over the past year to a median of $572,500.

Over the past five years, Isaac house prices are up a cumulative 71%.

Gladstone was the next best mining region, with annual house price growth of 13.4% to a median of $465,000, followed by Port Hedland in the Pilbara region of WA (up 12.8% to) a median of $850,000.

Port Hedland has the highest median price of all mining towns and also recorded the highest cumulative house price growth as well (119%) over the past five years.

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However, not all mining towns showed stellar capital growth over the past 12 months with the Whitsunday region, which is home to the township of Bowen, and Port Pirie in South Australia recording declines in their median selling price of 12% and 8% respectively.

Modest house price growth was recorded for Mount Isa (1.2%), Mackay (2.4%), Kalgoorlie/Boulder (3%) and Whyalla (4.8%).

RP Data’s Cameron Kusher points out that over the past 10 years all regions excluding Musswellbrook (9.7% per annum) and Kalgoorlie/Boulder (9.6% per annum) recorded average annual growth in median selling price exceeding 10% per annum.

“Once again, Isaac is the standout, with median prices increasing at an average annual rate of 32.3%.”


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Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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