Queensland's Emerald offers residential bargains: HTW

Queensland's Emerald offers residential bargains: HTW
Queensland's Emerald offers residential bargains: HTW

There are currently bargains across all price points at Emerald in Queensland, according to Herron Todd White.

They are from the basic neat home built in the 1980s around $140,000 through to executive homes built in the 1990s selling at around $250,000 up to acreage selling in the range of $400,000 to $550,000.

The acreage had held firm the longest but in the past 12 months we have seen it come back significantly in line with the fall in single dwelling properties in town, the valuation firm advised this month.

"The market is currently in a position where you can get much more with a lot less money than you could four years ago.

"If you’re a first home buyer or have a deposit and ready to go, now is the cheapest time to buy in the past 11 years," it suggested.

Emerald has gone through four major building and construction booms over the past fifty years.

There was a major construction phase in the 1960s to 1970s of railway homes, housing commission and blue collar workers’ accommodation.

"These are now selling near the bottom of the market in the $120,000 to $160,000 range," according to Herron Todd White's latest monthly market report. 

The property advisory firm says that then there was the opening up of many coal mines in the Bowen Basin region in the late 1970s when mining companies built many homes in town from 1978 to 1994 of very similar design and style. 

These are now selling mostly in the $160,000 to $220,000 range.

"We then saw a large expansion of the town by private developers and our own council in the 1990s with many owner-occupier and custom built homes of the highest quality the town had ever seen.

"These were your large executive style homes along with a great expansion in the rural residential market.

"This created some prestige estates which still hold a premium today. 

"Then we saw the last boom from 2004 to 2012 which was the largest the town had experienced with many single dwellings and unit complexes being constructed.

"Some of these large, modern homes under ten years of age with pool, shed and located in good estates are holding at the top of the market in a range of $450,000 to $550,000, back from the peak of $700,000." 

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Queensland Htw

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