Coast median house price slumps
FRASER Coast acreage median house prices have slumped but Pialba homes have shot through the roof with Tinana right on their tails.
The Real Estate Institute of Queensland September quarter figures reveal some surprising median price drops in Maryborough, Torquay, Scarness and Eli Waters.
But REIQ Fraser Coast zone chair Linda Bland said our property market is still in good shape compared with other regional centres.
Overall, Fraser Coast prices were down only 8 per cent in the last quarter, and were up 5 per cent across the board during the past year.
“Buyers are remaining slightly cautious due to the recent interest rate hike and the economy.
“People are a little bit hopeful however, with the proposed mining projects on the horizon for the region,” she said.
“Investors are still about; some even coming from interstate looking for a lifestyle change.”
Maryborough houses recorded a significant drop in price – 7.6 per cent on the previous quarter.
Torquay went down by 2.2 per cent, Scarness 1.7 per cent and Eli Waters by 1.5 per cent.
Point Vernon homes rose by 6.2 per cent and Urraween by 4.2 per cent. Urangan went up by 1.3 per cent.
Across the Fraser Coast the median price averaged $297,500, $20,000 above Bundaberg and $8000 more than Toowoomba.
Gladstone, Cairns and Toowoomba were the only regions to go up.