Mount Tamborine in Gold Coast hinterland top-performing regional housing market in July: Residex

Mount Tamborine in Gold Coast hinterland top-performing regional housing market in July: Residex
Mount Tamborine in Gold Coast hinterland top-performing regional housing market in July: Residex

Mount Tamborine in the Gold Coast hinterland was the strongest-performing regional housing market over July, according to new figures from Residex, with a number of regional Queensland markets performing well, including Noosa.

Residex reported that all state regional housing markets – apart from Tasmania – reported median capital growth over the month, however only five regional housing markets managed monthly growth of 3% of more.

Houses prices in Mount Tamborine increased by 5.26% over the month of July to a median of $412,000.

The suburb sits on a scenic 28-square-kilometre plateau, 525 metres above sea level, and many Mount Tamborine houses currently listed for sale sit on large rural or lifestyle blocks.

They include a three-bedroom house on a 2,000 square metre block, listed for sale at $445,000 by Blake Wallis of Tamborine Mountain First National Real Estate.

Properties that sold in Mount Tamborine over July include this four-bedroom house in Central Avenue (pictured below), built on 9,500-square-metre block in 1994, which sold for $686,500, having last traded for $97,500 in 2001. It was first listed for sale in January 2011 at an asking price of $790,000.

Another Mount Tamborine property to sell over July was a 1940s-era Queenslander featuring three bedrooms and “lots of fruit trees” on a 9,000-square-metre block, which sold for $395,000 through Emma Hawker from Raine & Horne Tamborine Mountain. It was listed for sale at $394,000 in September 2011 and last traded for $374,000 in August 2007.

Despite recording a quarterly gain to July of 7.24% – also the strongest of all regional markets – Mount Tamborine house prices are still down 4.2% for the year.

Also in south-east Queensland, Noosa house prices on the Sunshine Coast increased by 3.33% to $410,500, in contrast to the Gold Coast, where Surfers Paradise houses were unchanged at a median of $510,500.

There was also a strong showing from the remote regional town of Charleville, in south-western Queensland, 758 kilometres west of Brisbane and immortalised in the song of the same name by country singer Slim Dusty.

Charleville house prices increased by 4.03% over July to median of $247,000 and are up just over 1% for the year.

In NSW, Bathurst Orange houses was the standout market with values up 3.02% to a median of $274,000, while in Victoria, the stand-out regional housing markets were Mildura, where house prices grew by 3.89% to $188,500, and Shepparton, where house prices increased by 3.46% to a median of $230,500.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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