Queensland's Emerald fringes are value for money: HTW
The town of Emerald in Queensland's Central Highlands Region was approaching the bottom of market cycle for houses while it was a declining market for units in valuation firm Herron Todd White's May property clock, the same as in April, which also dealt with fringe locations.
HTW's property clock is a simple broad brush means of suggesting where property prices are and the direction they are headed in.
The whole of the Emerald market appears to be starting to level out for the time being. The Mayfair and Riverview estates have seen the largest drop in values as the investor ratio is much higher and pride in the street is less, causing the estates to be less attractive. Many homes were built the same and the street appeal is inferior. Because of this they do offer some good value for money if one is prepared to call it their home. Flood-affected properties are also selling at a discount and are hard to move.
The median house price in Emerald was $260,000 for houses, while for units it was $152,500, according to CoreLogic RP Data.
Property Observer looked up a few recent sales around the median prices on www.realestate.com.au:
1. A four-bedroom house at 7 Staunton Street Emerald Qld 4720 sold for $275,000.
2. A five-bedroom executive unit at 2/11 Wright Street Emerald Qld 4720 sold for $200,000.
