House prices in Hervey Bay are on the way up, increasing over the September quarter.
House prices in Hervey Bay are on the way up, increasing over the September quarter. Karleila Thomsen

Coast house prices on the rise

OUR HOUSE prices are going up again.

“We’ve seen the bottom of prices with prices already starting to recover,” Real Estate Institute of Qld local spokesman Alan Wetton said yesterday.

“After a bumpy period at the beginning of the year the market is improving.

“The median house price on the Fraser Coast increased 3.4 per cent to $300,000 over the September quarter.”

The Fraser Coast hit par with Redland, the Sunshine Coast and Gladstone – all recorded that 3.4 per cent increase.

“First home buyers underpinned activity in the September quarter but they have petered out now,” Mr Wetton said.

“Since the Fraser Coast is really a summer paradise, the summer and autumn periods are traditionally the best periods for our property market.”

Kawungan is roaring ahead with a 9.8 per cent increase over the quarter.

Toogoom scored an 8.1 per cent rise.

Urangan came up with 3.3 per cent and Maryborough is creeping up nicely at 2.8 per cent.

Pialba hit the biggest drop at 14.5 per cent.

Mr Wetton said with first home buyer numbers reducing, investors were becoming more prevalent.

“The last couple of months there has been a marked increase in the number of investor inquiries both locally and from investors outside the area.”

While the market was improving, increasing interest rates were having an impact on demand.



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