Coastal areas star as Queensland's double-digit growth suburbs are revealed: REIQ

Coastal areas star as Queensland's double-digit growth suburbs are revealed: REIQ
Coastal areas star as Queensland's double-digit growth suburbs are revealed: REIQ

Almost 70 Queensland suburbs delivered double digit house price growth over 12 months to June, according to the latest REIQ research from the Queensland Market Monitor report.

There were 11 suburbs that reached an annual house price growth of more than 20 percent.

The top performing was Blackwater in the Central Highlands region not far from Rockhampton, which saw its prices soar 151%.

Spring Mountain near Ipswich grew over 103%, while there was more success all along the Queensland coast.

house prices in Collinsville, inland from the Whitsundays rose 46% over the year, during which Minyama (45%), Hollywell (30%), Mount Coolum (pictured above, 22%), Dundooran in Hervey Bay (21%) and Idalia in Townsville (21%) grew as the coasts best performers.

Hamilton (33%), Miles (23%), and Boonah (21%) were the inlands best performers also secured over the 20 percent growth mark.

Click here to enlarge the full list.

Coastal areas star as Queensland's double-digit growth suburbs are revealed: REIQ

REIQ CEO Antonia Mercorella said while many headlines predicted doom and gloom for the property market, the reality was very different with many markets in Queensland performing exceptionally well.

“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” Mercorella said.

“And there are m any more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”

“The top area delivering the strongest growth has been Blackwater, with 151 per cent growth. This is a results of the resurgence in coal prices and the low base starting point."

A total of 41 suburbs in the southeast corner dominated the list of top performers for capital growth in Queensland, comprising around 60 percent of all 68 suburbs included on the list.

Mercorella however suggested the suburbs delivering good growth are not all focused in the southeast corner, with a liberal sprinkling of suburbs throughout central and northern Queensland.

“This spread of suburbs is a good indication that Queensland real estate is delivering steady sustainable growth across the board. We’re seeing growth outside the southeast corner,” Ms Mercorella said.

Mercorella cautioned against celebrating another ‘boom’.  

“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak. It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon,” she said. 

A total of 13 suburbs in Brisbane LGA made the list of top performers for the past year. Hamilton was the fifth strongest performer in Queensland and the best performer in Brisbane LGA.

house prices in Hamilton increased 32.9 per cent for the past year, to $1,442,000. Hamilton was also the most expensive suburb included on the list of Queensland top performers.

Other suburbs in Brisbane LGA reaching a capital growth for houses of 10 per cent or higher were Sandgate, Paddington, Mount Ommaney, Sunnybank, Graceville, Hendra, Shorncliffe, Seven Hills, Nundah, Kedron, Bulimba and Auchenflower.

Ipswich had six suburbs on the list, the Gold Coast had four and Moreton Bay had three. Redland and Logan had not suburbs on the list. 

Hollywell in the Gold Coast is listed as the sixth performer in Queensland, with houses reaching a capital growth of 30.5 per cent for the past year taking its median to $810,000.

The top performer in regional Queensland was Townsville, where there were four suburbs reaching double digit house price growth. 

Cairns and Gympie had three suburbs on the list of top performers. 

Palm Cove was the best performer in Cairns, ranking 26th within the Queensland tally. house prices in Palm Cove increased 14.3 per cent, to $606,000 in June 2018. 

The Whitsunday only reported Collinsville on the list, which is ranked third throughout the state. Collinsville is a mining town, reporting an annual capital growth for houses of 46.2 per cent, to $95,000 in June 2018.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Reiq House Price Growth

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