Gladstone house market down by 10 percent annually: REIQ

The Gladstone median house price fell 3.2 percent this quarter, to $290,000 and over the past 12 months, the market has lost 10.7 percent, according to REIQ's latest report. 

The unit market fell 20.3 percent, to $185,000.

"This market continues to feel the impact of the resources downturn and news last week that the Boyne Island smelter was scaling back production levels," the REIQ noted.

It also reduced its staff by up to 100 workers due to soaring electricity costs, which will only add to market pressures.

A three bedroom house at 10 Herbert Street, Gladstone Central (above) was sold for $284,000.

Similarly a two bedroom house at 6 Oaka Lane, Gladstone Central (below) was sold for $265,000.