Remote mining towns dominate RP Data’s list of Queensland top-performing housing markets

Remote mining towns dominate RP Data’s list of Queensland top-performing housing markets
Larry SchlesingerDecember 8, 2020

Remote north Queensland mining towns dominate a list of the state’s top-performing suburbs in 2011, according to RP Data’s list of top 100 house price growth suburbs.

Reflecting the underperformance of the Queensland housing market in 2011, there are only 12 sunshine state locations on the list, with nine of these having strong ties to mining and natural resources activity.

All nine mining towns rank inside the top 50 with four inside the top 10 suburbs led by top placed Moranbah in the Isaac region coal belt as well as nearby Clermont, which ranked 22nd.

Moranbah is followed by a cluster of towns around Gladstone, the epicentre of $75 billion worth of liquefied natural gas, rail and port projects. These include New Auckland (third), Clinton (sixth) and West Gladstone (eighth).

Ray White Gladstone principal Andrew Allen says investors make up 60% of buyers in the region, with vacancies in 2011 below 1% despite a record number of dwellings approved by the council.

About 10,000 new workers are expected in Gladstone over the next 12 months, with mining companies building 4,000 accommodation units and the Queensland government developing about 1,000 blocks.

“Demand outweighs supply two to one,” Allen tells The Australian.

The mining outlier is Roma, 515 kilometres west of Brisbane in the Darling Downs, a town swept up in the coal seam gas (CSG) boom and the home of Origin Energy's Spring Gully Coal Seam Gas Development and the outer end point of the 434-kilometres Roma-to-Brisbane gas pipeline.

The three remaining locations are the Brisbane suburbs of Red Hill (17th), Indooroopilly (70th) and Coorparoo (77th).

Red Hill, just three kilometres from the Brisbane CBD, recorded impressive house price growth of 12% to a median house price of $705,000 and is the only one of the tree Brisbane suburbs to rank higher than some of the remote mining locations.

Queensland locations in the RP Data Top 100

Rank

Location

Median value in 2010

Median value in 2011

% change

1st

Moranbah

$474,000

$612,000

29%

3rd

New Auckland

$379,000

$459,000

21.2%

6th

Clinton

$385,000

$452,000

17.4%

8th

West Gladstone

$353,000

$412,000

16.7%

11th

Roma

$274,000

$317,000

15.7%

12th

Blackwater

$310,000

$357,000

14.9%

18th

Red Hill

$629,000

$705,000

12%

21st

Boyne Island

$421,000

$470,000

11.8%

22nd

Clermont

$317,000

$353,000

11.3%

35th

Emerald

$354,000

$385,000

8.6%

70th

Indooroopilly

$653,000

$692,000

6%

76th

Coorparoo

$602,000

$634,000

5.4%

Source: RP Data

Photo courtsey of Flickr.

 

 


Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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